Business
Queen's Road Capital Announces Private Placement & Appointment of Mr. Don Roberts
Hong Kong, Hong Kong--(Newsfile Corp. - February 12, 2020) - Queen's Road Capital Investment ...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Queen's Road Capital Announces Private Placement & Appointment of Mr. Don RobertsHong Kong, Hong Kong--(Newsfile Corp. - February 12, 2020) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the \"Company\", \"Queen's Road Capital\" or \"QRC\") is pleased to announce that it is undertaking a private placement of 132,615,753 shares at a share price of $0.40 for gross proceeds of $53,046,301.As mentioned in the press release dated 3 February 2020, Queen's Road Capital is issuing 106,750,003 shares to the following investors either directly or through their investment companies (\"Investor Group\") for total gross proceeds of $42,700,000:Corom:                                                                    36,210.990 sharesSquadron Resources:                                           36,210.990 sharesInvestor X:                                                                  19,119,403 sharesDirectors & Officers:                                               8,690,642 sharesInvestor Y:                                                                  6,517,978 sharesIn addition, the Company is issuing 25,865,750 shares to other investors at a share price of $0.40 for total gross proceeds of $10,346,300. The Company may upsize the private placement. Closing will occur as soon as practical following receipt of TSX Venture Exchange approval.Queen's Road Capital has raised a total of approximately $84,000,000 since completing its change of business transaction on 3 February 2020. These funds will be used for investment and for general corporate purposes.Appointment o...