Queen's Road Capital Investment Ltd. announced a non-brokered private placement of 156,250,000 common shares at an issue price of CAD 0.64 per share for gross proceeds of up to CAD 100 million on February 7, 2022. The transaction included participation returning shareholders including Corom Pty Ltd for CAD 25 million, Wyloo Metals Pty Ltd for CAD 25 million, BBRC International Pte Ltd for CAD 15 million, Warren Gilman, Chairman and Chief Executive Officer for CAD 5 million, Bonython Property and Investments Pty Ltd for CAD 5 million, Washington H. Soul Pattinson & Company Ltd. for CAD 5 million, and remaining up to CAD 20 million will include participation from other investors and company may pay finders' fees in connection with such additional subscriptions. All of directors and officers of the company have committed to participate in the transaction.

Closing will occur as soon as practical following receipt of TSX Venture Exchange approval.