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Jonathan Wilkinson, President and
CEO of QuestAir, said that the credit line
will be used to support QuestAir's
working capital requirements as the Company
expands the sales of its commercial
gas purification systems. The term loan will
principally be used to finance capital
investments, including manufacturing
equipment required to commercialize
the large capacity hydrogen purification
system that QuestAir is developing
in conjunction with ExxonMobil Research and
Engineering Company.
J.P. Michael, Senior Vice President
of Comerica's Technology & Life Sciences
division said the bank has extensive
experience in providing innovative debt
financing to growth companies with
proven technology and strong management
teams. "We are extremely pleased
to work with QuestAir, and we look forward to
expanding our relationship as QuestAir
grows and its debt financing requirements
expand," he said
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.
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 refuelling
stations. The Company has joint
development agreements with Exxon Mobil Research
and Engineering Company and Shell
Hydrogen, and a collaboration with FuelCell
Energy. 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".
About Comerica Bank's Technology & Life Sciences Division
Comerica Bank's Technology &
Life Sciences Division is one of the nation's
leading technology banking practices,
offering a wide range of financial
services tailored to corporate customers,
entrepreneurs and professionals.
Veteran bankers provide credit and
financial services and products to young,
growing, professionally backed technology
and life sciences companies, as well
as their more mature counterparts.
The Technology & Life Sciences Division
serves all major U.S. technology
centers from offices coast-to-coast and its
headquarters in Palo Alto, Calif.
Comerica Bank is a subsidiary of Comerica
Incorporated (NYSE: CMA), a financial
services company headquartered in Detroit,
which is the 20th largest banking
company in the nation, with $51.8 billion in
total assets at Dec. 31, 2004.
For further information please contact:
QuestAir Technologies Inc.
Andrew Hall
Director, Corporate Development
and External Communications
Phone: (001) 604-453-6967
Email: hall@questairinc.com
Web: www.questairinc.com
UK media contact:
Charles Ryland
Ben Willey
Eleanor Williamson
Buchanan Communications
Phone: 020 7466 5000
Canadian media contact:
Pamela Smith
James Hoggan + Associates
Phone: (001) 604-739-7500
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