- Queen’s Road Capital Investment (QRC) will invest an additional US$4,000,000 in IsoEnergy by way of a convertible debenture
- The convertible debenture will carry a 5-year term and voting alignment and a 10.0 per cent coupon
- Proceeds will be used to further exploration of IsoEnergy’s Athabasca Basin properties and for general corporate purposes
- IsoEnergy is a uranium exploration and development company with a portfolio of projects in the Eastern Athabasca Basin
- Queen’s Road Capital is a dividend-paying, investment company
- Queen’s Road Capital Investment Ltd. (QRC) opened trading at C$0.77
Queen’s Road Capital Investment (QRC) will invest an additional US$4,000,000 in IsoEnergy by way of a convertible debenture.
The convertible debenture will carry a 5-year term and voting alignment and a 10.0 per cent coupon. It will be convertible into IsoEnergy common shares at a share price of C$4.33. The interest is payable semi-annually, 7.5 per cent in cash and 2.5 per cent in shares.
Proceeds will be used to further exploration of IsoEnergy’s Athabasca Basin properties and for general corporate purposes.
Warren Gilman, Chairman and CEO of Queens’s Road Capital, commented on the financing.
“QRC is delighted to increase its commitment to IsoEnergy at a time when the fundamentals for the nuclear sector have never been so strong as a growing number of countries transition away from fossil fuel electricity sources and their dependence on foreign imports of oil and gas. IsoEnergy’s high-grade Hurricane uranium deposit follows the discovery of NexGen’s Rook I deposit, and QRC is proud to be a partner in advancing both those deposits.”
IsoEnergy is a uranium exploration and development company with a portfolio of projects in the Eastern Athabasca Basin in Saskatchewan.
The investment is scheduled to be completed in the next few weeks.
Queen’s Road Capital is a dividend-paying, leading financier to the global resource sector. The company is a resource-focused investment company, making investments in privately held and publicly traded companies.
Queen’s Road Capital Investment Ltd. (QRC) opened trading at C$0.77.
