QSolar Limited

May 09, 2011 18:24 ET

QSolar Limited Announces Revised Material Change Report

CALGARY, ALBERTA--(Marketwire - May 9, 2011) - QSolar Limited, formerly Bricol Capital Corp. (CNSX:QSL) ("QSolar" or the "Corporation") announces that it has re-filed a Material Change Report previously filed on SEDAR on April 6, 2011, relating to the reverse take-over of Bricol Capital Corp. The re-filed Material Change Report provides detailed disclosure regarding the acquisition of all of the issued and outstanding shares of QSolar Ltd., a private U.K. company, by Bricol Capital Corp. and includes copies of the audited financial statements of QSolar Ltd. for the year ended December 31, 2009, and the interim financial statements for the period ended September 30, 2010. Immediately on completion of the restructuring transaction, the common shares of QSolar commenced trading on the Canadian National Stock Exchange ("CNSX") at the opening of the market on Friday March 25, 2011, under the trading symbol QSL.

Additional information and documents with respect to the QSolar transaction can be found on www.SEDAR.com.

About QSolar

QSolar holds intellectual property rights and the business operation associated with its Spraytech79 PV solar panel manufacturing process. The Spraytech79 process is a spray application process for the manufacture of PV solar panels that is an alternative to the conventional lamination process. It is anticipated that the Spraytech79 process could produce up to a 15% net cost saving for a large volume panel manufacturer.

QSolar will be implementing a fully automated integrated manufacturing line starting with solar grade silicon and a piece of glass and ending up with a complete solar module. Implementation of this fully automatic Crucible Cell- Spraytek process will enable QSolar to manufacture its Spraytek panel range at a cost significantly lower than $1/W as well as offering volume pricing for its panels for under $1/W. In view of the fact that competitive crystalline panels are selling at minimum volume prices of about $1.60/W and the world solar PV market approaching $100bn a year QSolar expects the sales of its panels to reach record levels in 2011.

Contact Information

  • QSolar Limited
    Andreas Tapakoudes
    President and CEO
    403-770-8436 (FAX)