CCR TECHNOLOGIES LTD.

CCR TECHNOLOGIES LTD.

March 28, 2005 16:43 ET

CCR Technologies Ltd. Attracts $5.0 Million Strategic Investment


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CCR TECHNOLOGIES LTD.

TSX SYMBOL: CRL

MARCH 28, 2005 - 16:43 ET

CCR Technologies Ltd. Attracts $5.0 Million Strategic
Investment

CALGARY, ALBERTA--(CCNMatthews - March 28, 2005) - C. Kent Jespersen,
Chairman of the Board of Directors of CCR Technologies Ltd. (TSX:CRL)
(the "Corporation") today announced a proposed $5.0 million investment
in the Corporation by the Quorum Group of Companies ("Quorum").

The proposed financing shall consist of a private placement of a series
of subordinated secured convertible debentures in the principal amount
of up to $5,000,000 maturing 5 years from the date of issue. The
debentures shall be secured against the assets of the Corporation and
bear interest at an annual rate of 6 1/2%, payable quarterly. Except in
the event of default, no principal repayment is required or permitted
prior to maturity. The principal amount of the debentures is convertible
at the option of the holder into common shares of the Corporation at a
conversion price of $0.75 per common share and increasing to $1.10 per
common share if the Corporation's 2005 pre-tax profit exceeds
$3,000,000. The Corporation shall also have the option to force
conversion of the debentures after the second anniversary of the
debentures if the average trading price of the common shares of the
Corporation over a 30 day period exceeds the original conversion price
by 180% in the third year, 220% in the fourth year and 260% in the final
year.

"CCR couldn't be more delighted with this investment by one of Canada's
most experienced technology investors," says Jespersen. "Clearly
Quorum's investment is a vote of confidence in CCR's strategy of
broadening its technology base in the global oil and natural gas
industry. The debentures have been designed as a quasi-equity
investment, with repayment on maturity if there is not prior
conversion". Jespersen also stated, "Quorum conversion rights are at a
price that reflects a premium to CCR's trading price."

Wanda Dorosz, Chief Executive Officer of the Quorum Group commented that
"CCR is a strong platform company poised for growth in the robust oil
and natural gas industry. We like its well run operations, its strong
balance sheet, and its domain-rich management team and shareholder
group. By combining Quorum's extensive capital markets experience with
this technology rich company, we believe we have a winning team that can
deliver strong growth in an increasingly broader base of oil and natural
gas-related products and services worldwide."

As part of the financing it is anticipated that Wanda Dorosz will be
appointed to the Board of Directors of the Corporation. Jespersen
remarked that, "Quorum's role at the boardroom table is very welcome to
the Corporation at this junction of our growth. Quorum has introduced
new technology opportunities to us that build upon our core competencies
and prestigious customer base."

Closing of the financing is subject to satisfactory due diligence,
completion of legal documentation and regulatory body approval.

CCR Technologies Ltd. is a leading technology solutions corporation
focused on the purification of process chemicals and sweetening of sour
gas through the innovative use of proprietary patented technologies. The
Corporation provides superior economic and environmental benefits to the
upstream, downstream oil and gas industries, and is also pursuing new
business opportunities in the petrochemical and international chemical
purification markets.

The Quorum Group of Companies was founded in 1987 under the leadership
of Wanda Dorosz, the current CEO and Managing Partner. It operates from
its headquarters in Toronto with subsidiary offices in Bermuda and
London, UK. Since 1987, Quorum has successfully invested over $350
million on behalf of institutions and high net worth individuals in
growth capital. It recently closed the Quorum Secured Equity Trust in
December 2004, Canada's first dedicated pool for undervalued
publicly-traded Canadian companies.

Shares of CCR Technologies Ltd. trade on the Toronto Stock Exchange
under the symbol "CRL".

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    CCR Technologies Ltd.
    C. Kent Jespersen
    Chairman of the Board
    (403) 262-4300
    or
    CCR Technologies Ltd.
    Bud Bell
    Chief Executive Officer
    (403) 262-4300
    or
    CCR Technologies Ltd.
    Chris Keen, CPA
    Chief Financial Officer
    (403) 262-4300
    Website: www.reclaim.com