Business
Queen's Road Capital Announces Investment in Osisko Green
Hong Kong, Hong Kong--(Newsfile Corp. - July 14, 2021) - Queen's Road Capital Investment Ltd....
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Queen's Road Capital Announces Investment in Osisko GreenHong Kong, Hong Kong--(Newsfile Corp. - July 14, 2021) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the \"Company\" or \"Queen's Road Capital\") is pleased to announce its intention to participate as an Initial Funding Investor in the Osisko Green Acquisition Ltd. (\"Osisko Green\") initial public offering with a participation of approximately C$20 million.On July 13, 2021, Osisko Green filed its preliminary prospectus for an initial public offering of C$250 million. Osisko Green is a newly organized special purpose acquisition corporation (\"SPAC\") with the purpose of effecting an acquisition of a business involved in the shift away from fossil fuels to green energy and related industries and commodities such as mining of battery minerals, refining and processing, technology and supply chains.Osisko Green is led by Sean Roosen, John Burzynski and Robert Wares, who have co-founded and led one of the most successful mining groups of the past two decades. They have founded numerous companies and collectively raised over C$3.4 billion in capital, created over C$10 billion of shareholder value and discovered more than 100 million ounces of gold while overseeing the construction of over 20 mines.Queen's Road Capital intends to participate as an Initial Funding Investor in Osisko Green, investing alongside the sponsor, Osisko Green Sponsor Corp. (a wholly-owned subsidiary of Osisko Mining Inc.) and other founding investors, Osisko Mining Inc. and Osisko Gold Royalties Ltd. The Company intends to acquire a combination of (i) Class B Founders' Shares, (ii) Funding Warrants and (iii) Class A Restricted Voting Units (each comprising of one Class A Restricted Voting Share and one-half of one Warrant).Warren Gilman, Chairman and CEO of the Company commented: \"Queen's Road Capital is pleased to make its first investment jointly with the Osisko team. The leadership team of Sean, John and Bob have a tremendous track record and we look forward to growing our partnerships in the future. Queen's Road Capital shares their belief in the prosperous future of the battery metals sector which will become an increasingly significant component of the Queen's Road Capital portfolio. The combined mining sector experience and respective networks of the Osisko team and the Queen's Road Capital...