SERVICE SECTOR / IPO - Questar Technology Inc
QUESTOR TECHNOLOGY INC. ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING
CALGARY, Feb. 13 /CNW/ - Questor Technology Inc. announces that it has
completed the closing of its initial public offering for an aggregate of
84,700 units comprised of one common share and one common share purchase
warrant at $1.25 per unit pursuant to a prospectus dated November 14, 1997
filed with the Alberta Securities Commission. Questor had previously
completed the initial closing of the offering for 857,600 units on January 21,
1998 for net proceeds of $937,964. Global Securities Corporation acted as
agent in connection with this offering.
The aggregate net proceeds to Questor from this closing of $96,682.58
together with the net proceeds of $937,964 from the initial closing will be
used to invest in the manufacture and marketing of Questor's Turbo Flare
Units, the development of other technology, the evaluation of potential
acquisitions of technology, the repayment of debt and for use as working
capital.
Questor is engaged in the business of developing environmental
technologies for use by the oil and natural gas industry.
The common shares of Questor are conditionally approved for listing on
The Alberta Stock Exchange under the trading symbol ''QST'', subject to filing
certain documents. |
