In This Article:
Hong Kong, Hong Kong--(Newsfile Corp. - May 21, 2025) - Queen's Road Capital Investment Ltd. (TSX: QRC) (the "Company", "Queen's Road Capital" or "QRC") notes the statement released earlier today by Adriatic Metals PLC ("Adriatic" or "ADT") whereby Adriatic has confirmed it is in discussions with Dundee Precious Metals Inc. regarding a possible offer for the entire issued capital of ADT.
QRC invested US$20 million in an Adriatic convertible debenture in December 2020. The debenture was converted into common shares of ADT in February 2024 at a share price of A$2.7976 and the Company has remained one of ADT's largest shareholders since then.
Warren Gilman, Chairman and CEO of the Company commented: "These takeover discussions are not a surprise to QRC as our investment philosophy focuses on the best quality assets globally and we therefore believe that all of our investee companies are takeover targets. We remain strong supporters of Adriatic and its management team as the Vares mine approaches commercial production."
About Queen's Road Capital Investment Ltd.
QRC 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. The Company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, visit the Company's website at www.queensrdcapital.com or contact by email info@queensrdcapital.com or phone +852 2759 2022.
Caution Regarding Forward-Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward-looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward-looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, inability to identify or successfully conclude corporate transactions, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.