News Release
Q Investments Announces closing of NBPP and LoanClosing of Non-Brokered Private Placement Q Investments Ltd. (the "Company") (QI: TSX-V) is pleased to announce that the non-brokered private placement (the "Private Placement") previously announced on October 4, 2004 has been accepted by the TSX Venture Exchange and has now closed. The Private Placement consists of 2,000,000 units at a price of $0.80 per unit for total proceeds of $1,600,000. Each unit is 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. The common shares and warrants issued under the placement, and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring August 8, 2005. Proceeds of the Private Placement will be used for working capital purposes and debt and equity investment opportunities. Loan to Exxel Energy Corp. Further to the Company's news release of March 16, 2005 the Company has now received Exchange approval to the loan of US$5,000,000 to Exxel Energy Corp. ("Exxel"). That transaction has now closed and the funds have been advanced. The Company will receive 1,000,000 common shares of Exxel as a bonus in connection with the loan. Further particulars are set forth in the March 16 news release. 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
