Transaction expected to close on May 29th
BURNABY, BC, May 25 /CNW/ - QuestAir Technologies Inc. ("QuestAir") today
announced that the proposed statutory plan of arrangement involving QuestAir,
its shareholders, Xebec Adsorption Inc and its shareholders has been approved
by QuestAir's shareholders.
At the special meeting of QuestAir shareholders held on Friday May 22nd,
the arrangement was approved by more than 99% of the shareholders voting. The
closing of the transaction remains subject to court approval, as well as the
satisfaction of other closing conditions specified in the Combination
Agreement entered into on March 17, 2009. QuestAir expects the hearing for the
court approval to take place on May 26, 2009 and the transaction to close on
May 29, 2009.
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: (604) 453-6967, Email: firstname.lastname@example.org, Web:
www.questairinc.com; Media contacts: Ian Noble and Steve Burega, Karyo
Communications, Phone: (604) 623-3007, email@example.com,