Quest Capital Corp.
TSX : QC

Quest Capital Corp.

August 18, 2005 09:28 ET

Quest Capital Announces Filing Of Final Prospectus

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 18, 2005) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Quest Capital Corp. (TSX:QC) is pleased to announce that it has filed a final short form prospectus with Canadian securities regulatory authorities in respect of its previously announced offering of common shares. Under an agreement with a syndicate led by Desjardins Securities Inc. and including Canaccord Capital Corporation and First Associates Investments Inc., Quest has agreed to sell 17,400,000 common shares at a price of $2.30 per common share to raise gross proceeds of $40,020,000. Quest has also granted the underwriters an option, exercisable until the second business day prior to the closing of this offering, to purchase up to an additional 4,347,827 common shares at the same price, and a further option, exercisable within 60 days of the closing of this offering, to purchase up to an additional number of common shares equal to 15% of the total number of common shares issued in this offering. Closing of the offering is anticipated to occur on or about August 23, 2005.

Net proceeds from the offering will be used to fund Quest's merchant banking business.

About Quest

Quest Capital Corp. is a merchant banking organization that focuses on providing bridge and mortgage financing, and corporate finance services. Quest's primary expertise is providing asset-backed commercial loans to companies operating in industries such as mining, oil and gas, manufacturing and real estate.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States (or any other jurisdiction where it would not be allowed). The securities 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 unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available. Any public offering of securities to be made in the United States would, if made, be made by means of a prospectus that could be obtained from Quest Capital Corp. that would contain detailed information about Quest Capital Corp. and management and financial statements.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Quest. Actual results realized may vary materially from the information provided in this news release. As a result, there is no representation by Quest that actual results realized in the future will be the same in whole or in part as those presented herein.

Contact Information

  • Quest Capital Corp.
    A. Murray Sinclair
    Managing Director
    (604) 689-1428 or Toll-free (800) 318-3094
    or
    Quest Capital Corp.
    Michael Atkinson
    Vice President
    (604) 689-1428 or Toll-free (800) 318-3094
    or
    Quest Capital Corp.
    Bob Buchan
    Executive Chairman
    (416) 367-8383
    www.questcapcorp.com