News Release
Closing of Non-Brokered Private PlacementQ Investments Ltd. (the “Company”) (QI: TSX-V) is pleased to announce that the non-brokered private placement (the “Private Placement”) previously announced on January 6, 2006 has been accepted by the TSX Venture Exchange and has now closed. Exchange acceptance was subject to disinterested shareholder approval, which was received at a Special General Meeting held May 4, 2006. At the meeting, the disinterested shareholders voted 99.97% in favour of the transaction. The Private Placement consists of 8,500,000 units at a price of $1.20 per unit for total proceeds of $10,200,000. Each unit is comprised of one common share in the capital stock of the Company and one non-transferable share purchase warrant. Each warrant entitles the holder to acquire a further common share of the Company on or before May 15, 2011 at the price of $1.47 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 September 16, 2006. Proceeds of the Private Placement will be used for working capital purposes and debt and equity investment opportunities. 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
