QHR Technologies Inc. ("QHR" or the "Company") (TSX VENTURE: QHR) announced that the company has arranged a non-brokered private placement to raise up to $1,040,000. The private placement will consist of the sale of up to 1,600,000 units with each unit priced at $0.65 and consisting of one common share and one half non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the Company exercisable at a price of $0.75 within one year of closing.
The Company proposes to use the proceeds from the private financing for general working capital purposes and to reduce its debt related to the recent acquisition of Clinicare Corporation as announced on November 9, 2009.
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) .
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.