QAR Questair Tech

    FOR:  QUESTAIR TECHNOLOGIES INC.

TSX, AIM SYMBOL:  QAR

May 8, 2008

QuestAir Prices Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

QuestAir Technologies Inc. ("QuestAir" or the "Company") (TSX:QAR)(AIM:QAR) today announces that it has entered
into an underwriting agreement with Clarus Securities Inc. and Canaccord Capital Corporation (the
"Underwriters") and will file its final prospectus to offer 60,000,000 subscription receipts at a price of CDN
$0.15 per subscription receipt. The total gross proceeds from the offering will be CDN $9 million. Each
subscription receipt will be exchangeable into one unit consisting of one common share in the capital of the
Company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share
for a period of 24 months from the date of closing of the offering at a price of CDN $0.215. The exchange of
subscription receipts for units will occur automatically upon receipt of shareholder and listing approval,
which are expected to be obtained on or before June 17, 2008. The Company has also granted the Underwriters an
over-allotment option to purchase up to an additional 9,000,000 subscription receipts exercisable for 30 days
from closing.

The offering is expected to close on or about May 13, 2008. The Company has applied to list the common shares
issuable upon exchange of the subscription receipts and upon exercise of the warrants on the Toronto Stock
Exchange, and immediately prior to shareholder approval and listing, which is expected to be obtained on or
before 12:01 a.m. (Vancouver time) on June 17, 2008, will apply for admission of such common shares for trading
on the AIM of the London Stock Exchange. No application has been made, nor will be made to apply for listing of
the subscription receipts or warrants on the TSX or for admission of the subscription receipts and warrants for
listing on the AIM.

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. A copy of the final 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 subscription receipts 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.



                                                                

Questair Tech (LSE:QAR)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Questair Tech (LSE:QAR)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024