THUNDER BAY, ONTARIO--(Marketwire - Sept. 27, 2012) - QRS Capital Corp. ("QRS" or the "Company") (TSX VENTURE:QRS) is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 2,500,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of up to $500,000 (the "Offering"). Each Unit will consist of one common share and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each such Warrant will entitle the holder to purchase one common share of the Company at a price of $0.40 per common share for a period of 24 months from the closing date of the Private Placement.
The Company may pay finders' fees to certain arm's length parties in accordance with the rules to the TSX Venture Exchange ("TSXV") in consideration for their efforts in introducing subscribers to the Corporation.
Securities issued under the Offering will be subject to a four month hold period which will expire four months and one day from the date of closing date of the Private Placement. The Private Placement is subject to acceptance by the TSXV and other customary conditions for a transaction of this nature.
The net proceeds from the Offering will be used to continue the mineral exploration activities of the Company and for general working capital purposes.
About QRS Capital Corp.
QRS Capital (TSX VENTURE:QRS) is a Canadian publicly-listed mineral exploration company actively exploring copper, gold, and silver targets, focused on Latin America, particularly in Chile, Mexico, Colombia and Brazil.
ON BEHALF OF THE BOARD OF DIRECTORS
John Seaman, Chairman & CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future results of exploration and objectives and expected date of commencement of drilling. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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.