|
For Immediate Release 9 February, 2007
QuestAir Announces Option Grants to Directors
VANCOUVER, B.C. – QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) announced today that certain non-executive directors in the Company have been granted stock options as part of their annual compensation for serving as a director of the Company. The following directors were granted stock options in the Company at an exercise price of CDN $1.39:
- Mike Rosenberg, Harold Copping and Keith McLeod were each granted options to purchase 12,500 common shares in the Company.
- Dr. Denis Connor, Chairman of QuestAir, was granted options to purchase 15,000 common shares in the Company.
|
All director options vest over 1 year, and are exercisable in accordance with the terms of the Company’s 2006 Omnibus Plan.
The Company also announced that on 9 February 2007, Dr. Connor’s wife, as executrix of her mother’s estate, sold 6,970 common shares of the Company held by the estate at an average price of CDN$1.35 per share. The shares were sold pursuant to the winding up the estate's affairs.
Disclosure of the directors’ option grants, and the disposition of shares directly or beneficially held by Directors and Directors’ family members, is made pursuant to the rules governing the operation of AIM as established by the London Stock Exchange Plc.
About QuestAir Technologies Inc.
QuestAir Technologies, Inc. is a developer and supplier of proprietary gas purification systems for several large international markets, including existing markets such as oil refining, biogas production and natural gas processing, and emerging markets such as fuel cell power plants and fuel cell vehicle refueling stations. QuestAir is based in Burnaby, British Columbia and its shares trade on the AIM Market of the London Stock Exchange Plc. and on the Toronto Stock Exchange under the symbol “QAR”.
Certain statements in this press release may constitute ‘‘forward-looking’’ statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, ‘‘may’’, ‘‘will’’ and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.
For further information, please contact:
QuestAir Technologies Inc.
Andrew Hall
Director, Corporate Development
Phone: (001) 604-453-6967
Email: hall@questairinc.com
|
|
| |
|
UK media contact:
Charles Ryland
Ben Willey
Buchanan Communications
Phone: +44 (0) 20 7466 5000 |
Canadian media contact:
Glen Edwards
Karyo Communications
Phone: (001) 604-623-3007 |
| |
|
Canaccord Adams:
Mark Ashurst
Erin Needra
Phone: +44 207 050 6500 |
|
|
|
|
|
