FOR: QUESTAIR TECHNOLOGIES INC.
TSX, AIM SYMBOL: QAR March 26, 2008 QuestAir Announces Filing of Preliminary Short Form Prospectus VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2008) - THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS
SERVICES.
QuestAir Technologies Inc. (TSX:QAR)(AIM:QAR) announced today that it has filed a preliminary
short form
prospectus in all the provinces of Canada other than Quebec, to qualify an offering of common
shares of the
Company. Clarus Securities Inc. will act as the lead manager for the proposed fully marketed,
public offering. The offering may also occur by private placement in the United States, the United Kingdom and
other
jurisdictions in Europe. The number of common shares to be offered and the price for the
offering have not yet
been determined. Proceeds from this offering will be used to finance sales and marketing
activities, research
and development, and for general working capital.
The offering is subject to certain conditions, including but not limited to, the receipt of
all necessary
regulatory approvals, including approvals of the Toronto Stock Exchange and the AIM of the
London Stock
Exchange. A copy of the preliminary short form prospectus is available on www.sedar.com.
This release shall not constitute an offer to sell or the solicitation of any offer to buy
securities in any
jurisdiction. The common shares have not been registered under the United States Securities
Act of 1933, as
amended, and they may not be offered or sold in the United States absent registration or an
applicable
exemption from registration.
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
refueling stations. 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".
Forward Looking Statements 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.
-30- FOR FURTHER INFORMATION PLEASE CONTACT: QuestAir Technologies Inc. Sherry Tryssenaar
Chief Financial Officer
(604) 453-6902
Email: tryssenaar@questairinc.com
Website: www.questairinc.com OR Clarus Securities Inc. Rod Campbell
(604) 605-5700 OR Canaccord Adams
Robert Finlay
+44 (0) 20 7050 6500 OR Karyo Edelman
Stephen Burega
Canadian Media Contact
(604) 623-3007 OR Buchanan Communications
Charles Ryland
UK Media Contact
+44 (0) 20 7466 5000 OR Buchanan Communications
Ben Willey
UK Media Contact
+44 (0) 20 7466 5000 -0-
QuestAir Technologies Inc.
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