Queen's Road arranges $23-million private placement

Mr. Warren Gilman reports QUEEN'S ROAD CAPITAL ANNOUNCES PRIVATE PLACEMENT OF C$23 MILLION Queen's Road Capital Investment Ltd. is undertaking a non-brokered private placement of 1,483,871 common shares at a share price of $15.50 for total proceeds of $23-million. Proceeds from the private placement will be used to finance additional investments in accordance with the company's investment policy. Warren Gilman, chairman and chief executive officer, stated: "This private placement gives us the opportunity to welcome new long-term, supportive institutional shareholders to our register as we embark on the next growth phase of QRC. The added diversification of our shareholder base should result in an increase in the liquidity of the shares which will benefit all shareholders." The company may pay finders' fees in connection with this private placement. Closing will occur as soon as practical following receipt of Toronto Stock Exchange approval. About Queen's Road Capital Investment Ltd. 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. 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. We seek Safe Harbor.