QuStream Corporation Provides Update on Private Placement Financing

TORONTO, ONTARIO--(Marketwire - April 13, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

QuStream Corporation ("QuStream") (TSX VENTURE:QVC) wishes to provide an update on its previously announced non-brokered private placement of common shares. The private placement is continuing on the terms announced in the press release on February 26, 2010.

Closing of the private placement is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange. There can be no assurance that the private placement will be completed as proposed or at all.

This news release does not constitute an offer to sell or a solicitation of an offer to buy common shares. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons (as defined in Rule 902 of Regulation S) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statements

The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address QuStream's expectations should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in the Company's filings with Canadian securities regulatory authorities, which in relation to this press release include, but are not limited to, our ability to arrange the proposed private placement financing in prevailing capital market conditions, receipt of regulatory approvals, satisfaction of closing conditions, and any other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. We undertake no obligation, and do not intend, other than as required by law, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events.