Mr. Warren Gilman reports

QUEEN'S ROAD CAPITAL ANNOUNCES CLOSING OF UPSIZED C$33.8 MILLION PRIVATE PLACEMENT

Queen's Road Capital Investment Ltd. has completed its private placement announced on April 15, 2026. Due to investor demand, the placement was upsized to 2,180,646 shares at a price of $15.50 per share for gross proceeds of $33.8-million. Proceeds from the private placement will be used to finance additional investments in accordance with the company's investment policy. Finders' fees totalling $821,940 were paid to arm's-length third parties. The shares sold in the placement are subject to a four-month resale restriction which expires on Aug. 31, 2026.

Warren Gilman, chairman and chief executive officer, stated: "Queen's Road Capital welcomes several new shareholders to our register including two major Canadian institutional investors, one U.K.-based major institution and two Hong Kong-based family offices. On behalf of the QRC team, we thank them for their support."

Option grant

The company has granted 3.12 million incentive stock options to certain directors, officers and consultants. The options have an exercise price of $15.50 per share and a term of five years.

About Queen's Road Capital Investments 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.