Transaction now expected to close on or about June 12th
BURNABY, BC, May 28 /CNW/ - QuestAir Technologies Inc. ("QuestAir") today
announced that the proposed statutory plan of arrangement involving QuestAir,
its shareholders, Xebec Adsorption Inc. and its shareholders was approved by
the British Columbia Supreme Court on May 26, 2009. Today, the Toronto Stock
Exchange conditionally approved the issuance of the QuestAir shares to the
Xebec shareholders in connection with the transaction.
QuestAir has previously announced that the transaction was expected to
close on May 29, 2009. Due to the need to fulfill certain documentary
conditions of the TSX prior to closing, QuestAir now expects the transaction
to close on or about June 12, 2009. All other conditions to the closing of the
transaction specified in the Combination Agreement entered into on March 17,
2009 have been satisfied.
About QuestAir Technologies Inc.
QuestAir Technologies, Inc. is a developer and supplier of proprietary
gas purification systems for several large international markets, including
biogas production, natural gas processing and oil refining. QuestAir is based
in Burnaby, British Columbia and its shares trade on the Toronto Stock
Exchange under the symbol "QAR".
For further information:
For further information: QuestAir Technologies Inc.: Andrew Hall, Chief
Executive Officer, Phone: (001) 604-453-6967, Email: firstname.lastname@example.org,
Web: www.questairinc.com; Media contacts: Ian Noble and Steve Burega, Karyo
Communications, Phone: (001) 604-623-3007, email@example.com,