QAR Questair Tech

    QuestAir Technologies Inc. - Notice of Cancellation of AIM Listing

    BURNABY, BC, Dec. 5 /CNW/ - QuestAir Technologies Inc. ("the Company";
TSX: QAR; AIM: QAR) hereby notifies that, following a review of the Company's
AIM listing by its Board, the Company has decided to cancel the admission of
its common shares to trading on AIM with effect from 7.00 a.m. BST on 8
January, 2009 (the "Cancellation Date"). The last trading day on AIM will be 7
January, 2009.
    Given the Company's North American focused shareholder base, as well as
the relatively low number of the Company's shareholders holding shares on the
CREST Depositary Interest ("CDI") register and the low volume of trading in
shares on AIM, the Board concluded that the additional costs incurred in
maintaining a second listing on AIM were inappropriate. The Board considers it
in the best interests of the Company to seek a cancellation of its shares from
trading on AIM.
    The Company will still be maintaining its listing on the Toronto Stock
Exchange ("TSX") and shareholders wishing to trade the Company's common shares
after the Cancellation Date will be able to do so through that market.
Shareholders should not therefore be materially prejudiced by the proposed
cancellation of the AIM listing.
    CDI holders will not be required to move their holdings from CREST until
such time as they wish to trade their shares. Shareholders are advised to
consult their stockbroker or other independent professional adviser for the
procedure to follow.
    For those not familiar with the Canadian securities system, public
information on the Company can be accessed through www.sedar.com, an
independent website on which all regulatory filings must be made.

    About QuestAir Technologies Inc.

    QuestAir Technologies, Inc. is a developer and supplier of proprietary
gas purification systems for several large international markets, including
biogas production, natural gas processing and oil refining. 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.


For further information: QuestAir Technologies Inc., Sherry Tryssenaar,
Phone: (604) 453-6902, Email: tryssenaar(at)questairinc.com; Canaccord Adams:
Robert Finlay, Phone: +44 (0) 207 050 6500; UK media contact: Charles Ryland,
Ben Willey, Buchanan Communications, Phone: +44 (0) 20 7466 5000; Canadian
media contact: Ian Noble, Karyo Communications, Phone: (604) 623-3007
(QAR)



 



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