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For Immediate Release 13 October, 2005 5pm
QuestAir Announces Appointment of New CFO
BURNABY, B.C. – QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) a developer and supplier of advanced gas purification systems for refinery, industrial and fuel cell markets today announced the resignation of Dan Parmar as Chief Financial Officer (CFO) and Director of the Company, effective on 31 October 2005. Mr. Parmar is leaving QuestAir to take an expanded role with another company, including CFO and other corporate responsibilities.
Jonathan Wilkinson, President and CEO of QuestAir, said that Mr. Parmar joined QuestAir as CFO in 1999, and played a key role in the growth and financing of the company over the past 6 years.“
Dan was instrumental in managing QuestAir’s financing activities through several rounds of private financing, as well as QuestAir’s initial public offering in 2004. He also implemented best practices in public company reporting, disclosure and financial control,” said Wilkinson, “The board of directors, management and staff of QuestAir wish him well in his future endeavors.
”QuestAir announces the appointment of Ms. Sherry Tryssenaar as CFO and Director of QuestAir, effective 1 November 2005. Ms. Tryssenaar has 14 years of experience in capital markets, corporate finance and the technology sector. Most recently, Ms. Tryssenaar was Chief Financial Officer of OncoGenex Technologies Inc., a private clinical-stage biotechnology company based in Vancouver. Ms. Tryssenaar’s prior experience includes Director, Corporate Finance at RBC Technology Ventures, a strategic investment arm of the RBC Financial Group. Ms. Tryssenaar has a Bachelor of Business Administration from Simon Fraser University, and a M.Sc. in Economics from the London School of Economics, where she attended as a Commonwealth Scholar.
“We are very pleased to welcome Sherry to the QuestAir team. Sherry brings significant capital market experience to the Company which will be invaluable as QuestAir moves to the next phase of its growth and commercialization,” said Wilkinson, “We look forward to Sherry’s contribution to our corporate finance, investor relations, financial reporting and management, and treasury management activities.”
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.
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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”.
For further information please contact:
QuestAir Technologies Inc.:
Andrew Hall
Director, Corporate Development
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:
Terry Foster
James Hoggan + Associates
Phone: (001) 604-739-7500
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