Questor Technology Inc. Announces 2018 Capital Budget and Debt Financing

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CALGARY, Alberta, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Questor Technology Inc. (“Questor” or the “Company”) (TSX-V:QST) is pleased to announce its 2018 capital budget of $10 million which will be used primarily to expand its US Operations. The Company also announces that it has secured two new debt facilities with HSBC.

Questor’ 2018 capital budget of $10 million is focused on the continued expansion of the rental fleet, particularily in its core market of Colorado. The Company expects approximately 90% of the budget will be focused on additional proprietary rental emission control equipment. The balance of the budget will be dedicated to support equipment and maintenance capital. Questor expects the majority of the new units will be fabricated and made available for use in the first half of 2018.

The State of Colorado has taken a lead role in regulating quality, high-performance emission control equipment. Questor’s patented and proprietary technology has evolved to address Colorado’s unique and highly demanding requirements. Questor has been focused on providing this high-performance combustion equipment for a variety of clients on a rental basis. Demand for Questor’s solutions continues to grow and has resulted in the Company achieving a record level of utilization for its existing rental fleet.

Questor intends to finance the $10.0 million of capital expenditures detailed above with cash on hand, cash flow from operations and, if necessary, from the new credit facilities. The new facilities consist of a $5 million revolving capital loan facility and a $1 million operating loan facility.  This 2018 capital budget will allow for continued preservation of the Company’s balance sheet. 

Audrey Mascarenhas, Questor’s President and Chief Executive Officer commented "The planned spending further demonstrates Questors's commitment to high-performance emission control equipment, while responsibly allocating expansion capital to maximize shareholder returns”.

ABOUT QUESTOR TECHNOLOGY INC.

Questor is a public, international environmental Cleantech company founded in late 1994 and headquartered in Calgary, Alberta, with field offices located in; Grande Prairie, Alberta; Brighton, Colorado; and Brooksville, Florida.  The company is active in Canada, the United States, Europe and Asia and is focused on clean air technologies that safely and cost effectively improve air quality, support energy efficiency and greenhouse gas emission reductions.

Questor designs, manufactures and services high efficiency waste gas combustion systems; as well as, power generation systems and water treatment solutions utilizing waste heat. Our proprietary incinerator technology is utilized worldwide in the effective management of methane, hydrogen sulphide gas, volatile organic hydrocarbons, hazardous air pollutants and BTEX gases ensuring sustainable development, community acceptance and regulatory compliance. Questor and its subsidiary, ClearPower Systems are providing solutions for landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat in addition to a wide variety of oil and gas projects in Canada, throughout the United States, the Caribbean, Western Europe, Russia, Thailand, Indonesia and China. With a focus on solid engineering design, our products enable our clients to operate cost effectively in an environmentally responsible and sustainable manner.

Questor trades on the TSX Venture Exchange under the symbol ‘QST’.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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.