QSolar Limited
CNSX : QSL
FRANKFURT : QZO

April 17, 2015 17:43 ET

Court Appoints New QSolar Board

CALGARY, ALBERTA--(Marketwired - April 17, 2015) - (CSE:QSL) (FRANKFURT:QZO).

The Court of Queen's Bench of Alberta today issued an order appointing Messrs. William (Bill) C. MacDonald, Carel W.J. Hoyer, V.E. Dale Burstall and Karsten Busche as the directors of QSolar Limited.

The new QSolar Board expects to meet early during the week of April 20, 2015 to address various matters of immediate concern to the Corporation, including appointment of officers, identifying the status of assets and liabilities, communicating with the Corporation's service providers and regulatory authorities and developing a plan to review the current status and opportunities available to the QSolar group.

The Board does not anticipate taking immediate steps with respect to the trading status of the securities of the Corporation, including the existing cease trade order, until the Board has collected an appropriate level of updated information relative to the state of affairs of QSolar and updated shareholders with respect to such matters.

About QSolar Limited

QSolar is listed for trading under the symbol QSL on the Canadian Securities Exchange ("CSE") and Q20 on the Frankfurt Securities Exchange ("FSE"). There are currently 74,048,912 common shares issued and outstanding.

QSolar Limited (www.qsolar.net) and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop proprietary trade secret solar related processes and technologies, and have manufactured and sold proprietary solar products.

Neither the CSE nor the FSE have approved nor disapproved the contents of this press release. Neither the CSE nor the FSE accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain statements contained in this news release constitute forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.

Contact Information

  • For additional information please contact:
    Bill MacDonald in writing at:
    2400, 525 - 8th Avenue SW
    Calgary, Alberta T2P 1G1
    or by email at bilmac@bilmac.ca