QuestAir Technologies Inc.
TSX : QAR
AIM : QAR

QuestAir Technologies Inc.

March 25, 2008 18:43 ET

QuestAir Announces Filing of Preliminary Short Form Prospectus

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

QuestAir Technologies Inc. (TSX:QAR)(AIM:QAR) announced today that it has filed a preliminary short form prospectus in all the provinces of Canada other than Quebec, to qualify an offering of common shares of the Company. Clarus Securities Inc. will act as the lead manager for the proposed fully marketed, public offering. The offering may also occur by private placement in the United States, the United Kingdom and other jurisdictions in Europe. The number of common shares to be offered and the price for the offering have not yet been determined. Proceeds from this offering will be used to finance sales and marketing activities, research and development, and for general working capital.

The offering is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory approvals, including approvals of the Toronto Stock Exchange and the AIM of the London Stock Exchange. A copy of the preliminary short form prospectus is available on www.sedar.com.

This release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The common shares have not been registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About QuestAir Technologies Inc.

QuestAir Technologies Inc. is a developer and supplier of proprietary gas purification systems for several large international markets, including existing markets such as oil refining, biogas production and natural gas processing, and emerging markets such as fuel cell power plants and fuel cell vehicle refueling stations. QuestAir is based in Burnaby, British Columbia and its shares trade on the AIM Market of the London Stock Exchange Plc. and on the Toronto Stock Exchange under the symbol "QAR".

Forward Looking Statements

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.

Contact Information

  • QuestAir Technologies Inc.
    Sherry Tryssenaar
    Chief Financial Officer
    (604) 453-6902
    Email: tryssenaar@questairinc.com
    Website: www.questairinc.com
    or
    Clarus Securities Inc.
    Rod Campbell
    (604) 605-5700
    or
    Canaccord Adams
    Robert Finlay
    +44 (0) 20 7050 6500
    or
    Karyo Edelman
    Stephen Burega
    Canadian Media Contact
    (604) 623-3007
    or
    Buchanan Communications
    Charles Ryland
    UK Media Contact
    +44 (0) 20 7466 5000
    or
    Buchanan Communications
    Ben Willey
    UK Media Contact
    +44 (0) 20 7466 5000