Queen's Road Capital Provides Update on Portfolio

Hong Kong, Hong Kong--(Newsfile Corp. - September 16, 2025) - Queen's Road Capital Investment Ltd. (the "Company" or "QRC") is pleased to provide shareholders with an update on its investment portfolio.Additional US$20 million Investment in MoxicoQRC is pleased to announce it has completed an additional US$20 million convertible debenture investment in Moxico Resources plc ("Moxico"). The convertible debenture carries the same terms as the July 2024 debenture. QRC now holds US$70 million in Moxico convertible debentures which carry an 11.0% coupon and is convertible into Moxico common shares at a price of GBP0.90.Moxico's flagship asset is the Mimbula copper mine in Zambia. Mimbula is expected to be producing at annual rate of 36,000 tonnes per annum by year end following completion of the new solvent extraction plant. Mimbula is undergoing a staged expansion to 58,000 tonnes per annum with completion expected by end of 2026.Completion of Adriatic Metals TakeoverIn December 2020, QRC invested US$20 million in an Adriatic Metals plc ("Adriatic") debenture that was convertible into Adriatic Metals common shares at a price of A$2.7976. On June 13, 2025, Adriatic entered into an agreement with Dundee Precious Metals Inc. ("Dundee") whereby Dundee would acquire all the shares of Adriatic. The transaction closed on September 3, 2025. Based on the current Dundee share price, the offer is currently worth A$7.04 per Adriatic share and up to A$7.89 per share if QRC is granted full allocation under the mix-and-match facility.Conversion of IsoEnergy DebentureIn August 2020, QRC invested US$6 million in an IsoEnergy Ltd. ("IsoEnergy") debenture that was convertible into IsoEnergy common shares at a price of C$3.52. On August 1, 2025, QRC completed the conversion of the debenture into common shares ahead of the maturity of the debenture. IsoEnergy shares are currently trading at C$12.46 per share.QRC currently holds a US$223 million convertible debenture portfolio earning an average 9.7% coupon as well as a US$130 million equity investment portfolio. 75% of the convertible debenture portfolio is in the money at current investee share prices. With its net asset value at an all-time high, annual interest income of US$22 million and a growing dividend, Queen's Road is well positioned for its next phase of growth.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 StatementsCertain 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. 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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266556