News Release
Acquisition of Netco Energy Inc. SecuritiesQ Investments Ltd. (the “Company”) has participated in a private placement conducted by Netco Energy Inc. (“Netco”), pursuant to which the Company acquired 5,000,000 units of Netco at a price of $0.32 per unit, for a total purchase price of $1,600,000. Each unit consists of one common share of Netco, and one share purchase warrant (the “Warrant”) entitling the Company to purchase one additional common share of Netco at a price of $0.43 per share exercisable on or before August 2, 2011. The common shares and Warrants issued under the placement, and any shares issued pursuant to the exercise of the Warrants, are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange, expiring December 3, 2006. As a result of the foregoing acquisition, the Company now owns 5,000,000 common shares of Netco, representing approximately 21.67% of the currently issued and outstanding shares of Netco and 5,000,000 Warrants at a price of $0.43 per share exercisable on or before August 2, 2011. If the all of the 5,000,000 Warrants were exercised, the Company would then own 10,000,000 common shares of Netco representing approximately 35.61% of the outstanding shares of Netco assuming no further common shares of Netco had been issued. The securities acquired will be held for investment purposes. The Company may, depending on market and other conditions, increase or decrease its beneficial ownership of Netco’s securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investments and business opportunities. This press release is issued pursuant to section 111 of the Securities Act (British Columbia) and section 176 of the Securities Act (Alberta), which also require a report to be filed with the B.C. Securities Commission and the Alberta Securities Commission containing additional information with respect to the foregoing matters (the “Report”). To obtain a copy of the Report or for further information concerning this announcement, please 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 release. © 2007 Q Investments Ltd. (TSX: QI) - Please read our Disclaimer. |
TSX: QI
