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QHR Completes $1,040,000 Private Placement

Thu, 03/25/2010 - 5:30am
The Associated Press

QHR Technologies Inc. ("QHR" or the "Company") (TSX VENTURE: QHR) is pleased that the TSX Venture Exchange has accepted QHR's $1,040,000 non-brokered private placement for filing documentation on March 22, 2010. The Company announced the private placement on March 10, 2010 and completed the private placement on March 17, 2010.

The Company issued 1,600,000 units of the Company at a price of $0.65 per unit. Each unit consists of one common share and one-half of one share purchase warrant. One whole warrant will entitle the holder to purchase one additional common share of the Company exercisable at a price of $0.75 until March 16, 2011.

All the securities issued in connection with this private placement are subject to a four-month hold period expiring July 17, 2010.

The Company paid $6,500 to one finder in connection with the private placement.

The Company proposes to use the proceeds of the private placement for general working capital purposes and to reduce its debt related to the recent acquisition of Clinicare Corporation.

About QHR

QHR operates two business units in two distinct markets:

The Enterprise Management Software division specializes in workforce management software and consists of integrated payroll, employee self service, staff scheduling and human resource software; and in customized financial management software built on the Microsoft Dynamics GP platform. These products are targeted at complex healthcare and social services environments.

The Electronic Medical Records division offers a suite of medical software modules that provides computer-based medical records for physicians, medical specialists and surgeons, as well as an electronic patient record that is a key component of the move throughout Canada to provide electronic health records for all Canadians. The EMR division provides on-site and off-site hosting capabilities.

On behalf of the Board of Directors

Al Hildebrandt, President and CEO

Further risk information on the Company is available at www.sedar.com (http://www.sedar.com) .

For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company's website, www.QHRtechnologies.com (http://www.QHRtechnologies.com) .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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