Interested Persons of QSolar Limited

April 15, 2015 19:18 ET

Interested Person to Apply to Appoint New QSolar Limited Board of Directors

CALGARY, ALBERTA--(Marketwired - April 15, 2015) - The Alberta Securities Commission ("ASC") recently issued a cease trade order in respect of securities of QSolar Limited ("QSolar").

As background to their order, the ASC advised that "It is our understanding, based on discussions with a former executive officer of the Issuer [QSolar], that the entire board of directors and all the executive officers of the Issuer [QSolar] have resigned and that the Issuer [QSolar] has discontinued its operations."

Bill MacDonald, Carel Hoyer, Karsten Busche, and Dale Burstall (collectively, the "Interested Persons") will be applying to the Alberta Court of Queen's Bench on Friday, April 17, 2015 at 11:00 to be installed as directors of QSolar on an interim basis for the purpose of ascertaining the status of QSolar's assets, operations and financials in order to assess whether there is a viable "go forward" plan for QSolar that might be instituted by them or others.

The previous directors, Mark Ferguson, Preston Maddin, Andreas Tapakoudes, and Zijian Zhou, resigned on or about March 20, 2015, but neither they nor QSolar issued a press release in that regard.

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