For Immediate Release 25 May, 2006
QuestAir announces shareholder dealing
VANCOUVER, B.C. – QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) has been notified that one of its early strategic investors has sold its holding in QuestAir in trades made on 24 May 2006.
Ballard Power Systems Inc. (“Ballard”) sold its entire holding of 2,775,175 common shares at an average price of $1.35 per common share. Ballard made its first equity investment in QuestAir in 2000.
This announcement 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 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”.
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 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: +44 207 466 5000
Canadian media contact:
Terry Foster
James Hoggan & Associates
Phone: (001) 604-739-7500
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