- Queen’s Road Capital (QRC) has completed a private placement for gross proceeds of C$100 million
- The company issued 156,250,000 shares priced at C$0.64 per share
- The company will use the proceeds for further investments in line with its mandate
- Queen’s Road Capital is a leading financier to the global resource sector
- Queen’s Road Capital (QRC) opened trading at $0.70 per share
Queen’s Road Capital (QRC) has completed its previously announced private placement for gross proceeds of C$100 million.
The company issued 156,250,000 shares priced at C$0.64 per share. Proceeds will be used to fund additional investments.
Finders’ fees totalling $208,480 were paid to arm’s length third parties. The shares are subject to a four-month resale restriction which expires on June 28, 2022.
Warren Gilman, Chairman & CEO, commented on the capital raise.
“Our C$100 million capital raise was oversubscribed due to the overwhelming support of our existing shareholders and the participation of many new shareholders. On behalf of the QRC team, we thank them for their tremendous support. I believe these funds will provide QRC with the critical mass which will engender the potential for increased portfolio diversification, liquidity, dividends and shareholder value. With significant milestones being achieved at all our existing investee companies as well as new investments to be made, QRC expects an active and exciting 2022.”
Queen’s Road Capital is a leading financier to the global resource sector.
Queen’s Road Capital (QRC) opened trading at $0.70 per share.