QuStream Corporation

QuStream Corporation

November 21, 2005 09:22 ET

QuStream Completes $3.0 Million Debt Refinancing

TORONTO, ONTARIO--(CCNMatthews - Nov. 21, 2005) - QuStream Corporation ("QuStream") (TSX VENTURE:QVC) is pleased to announce that it has completed a refinancing of its notes payable currently due December 9, 2005.

"This financing preserves our capital and positions us to continue to grow QuStream, without any further dilution to our equity base," said Paul Haber, Vice President and Chief Financial Officer of QuStream.

The notes payable will bear interest at 10% per annum and will mature on February 9, 2007. As part of the refinancing, the Company has extended the term of the 375,000 warrants that were previously issued with the notes and due to expire December 9, 2005. These warrants will now expire February 9, 2007. The warrants currently have an exercise price of $1.36 per warrant which will increase to $1.45 per warrant after December 9, 2005.

About QuStream

QuStream is a global provider of creative, reliable, high-quality, cost effective, durable equipment to the creators and distributors of professional video content. QuStream is headquartered in Toronto, Canada with offices in New York and Alabama. For more information, visit QuStream at www.qustream.com.

All products mentioned herein are trademarked property of their respective owners.

Forward-Looking Statements

The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address QuStream's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in the Company's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • QuStream Corporation
    Investor Contact:
    Paul Haber - Chief Financial Officer
    +1 416-385-2323 x 201