News Release
Q Investments Ltd. announces shareholder approval of the Non-Brokered Private Placement and the appointment of a new Director, CFO and CEOQ Investments Ltd. (the “Company”) (QI: TSXV) held its Annual and Special General Meeting in Bermuda and all resolutions placed before the shareholders were voted in favor. The Private Placement previously announced on October 4, 2004, has now received conditional acceptance from the TSX Venture Exchange and shareholder approval of the new control block. The closing of the Private Placement still requires final acceptance from the TSX Venture Exchange. The Private Placement consists of 2,000,000 units at $0.80 per unit for a total proceeds of $1,600,000. Each unit will be comprised of one common share in the capital stock of the Company and one non-transferable share purchase warrant (the “Warrant”). Each Warrant entitles the holder to acquire a further common share of the Company for a five-year period at the price of $0.85 per share. Proceeds of the Private Placement will be used for working capital purposes and debt and equity investment opportunities. The Company is please to announce the appointment of Mr. Arthur Price as Director, Vice-President of Finance and Chief Financial Officer of the Company. Mr. Arthur Price was vice-president of the Bank of Butterfield in Bermuda for over 20 years and is currently working as an independent businessman providing consulting services. The Company is also pleased to announce the appointment of Mr. Michael Price as Chief Executive Office of the Company. Mr. Michael Price has been the President and a Director of the Company since February 2001 and is also a Managing Director of Amicorp (UK) Limited, an international financial consulting company. For further information contact Michael Price, President, at 44-20-7977-1268 or visit our website at www.qinvestmentsltd.com THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. © 2007 Q Investments Ltd. (TSX: QI) - Please read our Disclaimer. |
TSX: QI
