- Queen’s Road Capital (QRC) has announced a non-brokered private placement for up to C$100M
- Its six largest shareholders have agreed to participate to the tune of $80M
- 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) is down by 4.48 per cent trading at $0.64 per share
Queen’s Road Capital (QRC) has announced a non-brokered private placement for up to C$100M.
It will offer shares priced at $0.64.
The company’s six largest shareholders, representing 81.7 per cent of current shares outstanding, have agreed to participate in the private placement as follows:
| Corom Pty Ltd | $25,000,000 |
| Wyloo Metals Pty Ltd | $25,000,000 |
| BBRC International Pte Ltd | $15,000,000 |
| Warren Gilman | $5,000,000 |
| Bonython Property and Investments Pty Ltd | $5,000,000 |
| Washington H. Soul Pattinson & Company Ltd. | $5,000,000 |
| Total committed | $80,000,000 |
It may raise an additional $20M, which includes confirmed participation from its officers and directors.
It will use the proceeds to fund additional investments in accordance with its investment policy.
“The support of our largest shareholders in this placement mirrors their participation in QRC’s original placement two years ago and demonstrates their individual confidence in QRC’s business strategy, their recognition of QRC’s execution to date and their commitment to QRC’s growth objectives for the future,” stated Warren Gilman, Queen’s Road’s Chairman and CEO.
Queen’s Road Capital is a leading financier to the global resource sector.
Queen’s Road Capital (QRC) is down by 4.48 per cent trading at $0.64 per share as of 1:18 pm EST.