2014-04-24 15:01:47 -
Calgary, Alberta (FSCwire) - QSolar Limited QSolar” or the “Corporation is pleased to report that 1,645,510 outstanding common share purchase warrants were exercised at a price of $0.40 per warrant prior to their expiration at 4:00 P.M. MST, April 23, 2014. There were a total of 1,695,510 share purchase warrants due to expire on April 23, 2014. At the close of business April 23, 2014, 50,000 warrants expired unexercised.
The warrant exercises represent a conversion of 97.1% of warrants to common shares and the receipt of total gross proceeds to the Corporation of $658,204.
On November 14, 2013 and February 27, 2014, 10,000 and 50,000 share purchase warrants from the April 23, 2012 class of warrants were also exercised at
a price of $0.40 for total proceeds received of $4,000 and $20,000 respectively, prior to their expiration at 4:00 P.M. MST, April 23, 2014.
In light of the current general economic and stock market conditions, management is extremely pleased with the continued support offered by its current shareholders as reflected by these exercises of warrants.
As at April 24, 2014, a total of 73,748,912 common shares are issued and outstanding and a total of 8,900,797 share purchase warrants are issued and outstanding.
About QSolar Limited
QSolar trades under the symbol QSL on the Canadian Securities Exchange CSE and Q2O on the Frankfurt Securities Exchange FSE.
QSolar Limited (www.qsolar.net) and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop proprietary trade secret solar related processes and technologies, and manufacture and sell proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in Shanghai, China using its proprietary trade secret Spraytek® and ESS process and its own QLite and QSS family designs. QSolar Spraytek® panels offer several advantages over competing products as they have significantly lower losses in hot climates due to their design, offer superior solar cell encapsulation for better protection, significant weight savings and durability features over existing competitors PV modules.
Additional information on the operations or financial results of QSolar Limited are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (www.cnsx.ca) and Sedar website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gary Perkins, Investor Relations
Tekkfund Capital Corp.
Public Eye Consulting – Berlin, Germany
Telephone: 416- 882-0020
Telephone: +49 30 430 589 22
Andreas Tapakoudes, Chief Executive Officer
Preston J. Maddin, Chief Financial Officer
Neither the CSE nor the FSE have approved nor disapproved the contents of this press release. Neither the CSE nor the FSE accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate “continue “estimate “expect ‘may “will “project “should ‘believe and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether QSolar is able to meet price, performance, quality and delivery requirements. Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. QSolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
To view this press release as a PDF file, click onto the following link:
Source: QSolar Limited (CSE:QSL) www.qsolar.net/
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