QuStream Corporation ("QuStream") (TSX VENTURE: QVC) is pleased to announce that it has issued $2 million of notes payable. The notes payable bear interest at 10% per annum and mature on August 9, 2008. QuStream may pay off the notes at any time prior to maturity without any penalty.
As a separate matter, QuStream has discharged its $3 million of notes payable that came due February 9, 2006. Also on that date, 100,000 common share purchase warrants that were originally issued with the notes payable were exercised for net proceeds to QuStream of $145,000. The remaining 217,500 common share purchase warrants expired unexercised.
About QuStream
QuStream, through its wholly owned subsidiaries PESA and Fortel DTV™, is a global provider of integrated solutions to the creators and distributors of professional video content including the high-definition television and professional audio/video market segments. QuStream is headquartered in Toronto, Canada with offices in New York, Georgia, and Alabama. For more information, visit QuStream at www.qustream.com.
Forward-Looking Statements
The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address QuStream's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in the Company's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: QuStream Investor Contact: Frederick L. Godard Chairman, President and CEO (416) 385-2323 x 200 Email: godard@qustream.com Website: www.qustream.com
SOURCE: QuStream Corporation