2nd tranche of $2 million closed
FOR IMMEDIATE RELEASE
QSOLAR LIMITED ANNOUNCES SECOND TRANCHE CLOSING OF $2 MILLION ON
ARRANGED $10 MILLION FINANCING
Calgary, Alberta, Canada - March 28, 2013 (CNSXrQSL) - QSolar Limited (“QSolar” or the “Corporatìon”)
is pleased to announce pursuant to press releases issued March 13 and 18, 2013, that it has today completed the
second tranche closing of the private placement subscription in the amount of $2,000,000 for 2,666,667 units
ofthe Corporation (“Units”) at $0.75 per Unit. To date, the Corporation has received a total of $3,000,000 and
issued 4,000,000 Units on this private placement subscription. The total private placement amount will be
$10,000,000 for a total of 13,333,333 Units (the “Unit Offering”). The subscriber, Centrium Enterprises
Limited is a British Virgin lIsland company, controlled by Mr. JunLiang Xie, a resident of Zhoushan, Zhejiang,
China. The subscription contemplates two additional closings in several tranches over a period of up to 10 days
from today's date.
Each Unit consists of one common share of the Corporation (“Common Share”) and one-half of a Common
Share purchase warrant, with one whole Common Share purchase warrant entitling the holder to purchase one
additional Common Share at a price of $1.00 per Common Share for a period of two years from the date of the
Corporation’s acceptance of the subscription ofthe Unit Offering. The Unit Offering is subject to applicable
regulatory requirements and CNSX approval.
The net proceeds raised from the Unit Offering are intended to be used for purchase of raw material inventory
as the Corporation continues to ramp up production at its Shanghai manufacturing facility, and general
corporate purposes. The Corporation will pay a cash Íinder’s fee of 10% of the gross proceeds raised from this
Unit Offering payable at each tranche closing to an eligible finder (“Finder”). The Finder will also receive
finder warrants to acquire that number of Common Shares equal to 5% of the total number of Units issued
pursuant to the Unit Offering at an exercise price to be fixed at a 25% premium of the closing price for the
Common Shares on the trading day prior to the closing date of the subscription agreement issuable at each
tranche closing, exercisable for a period of 30 months.
QSolar trades under the symbol QSL on the Canadian National Stock Exchange (“CNSX”).
About QSolar Limited
QSolar Limited and its wholly-owned subsidiary„ QSolar Ltd., and its wholly-owned subsidiary, QSolar
(Shanghai) Photovoltaic Technology Co. Ltd., develop patented and proprietary solar related processes and
technologies, and manufacturing and sell proprietary solar products. The Corporation currently manufactures
solar photovoltaic (PV) panels in its new manufacturing facilities in Shanghai, China and in a contracted
manufacturing facility in Shenzhen, China using its proprietary patent pending Spraytek®, Kruciwatt® and
ESS process and its own QLite designs. QSolar products were initially introduced by QSolar in July 20l 0 and
have attracted significant interest, orders and letters of intent from European and U.S. markets generated by its
sales office representatives. QSolar Spraytek® panels offer several advantages over competing products as
they have significantly lower losses in hot climates due to their design, offer superior solar cell encapsulation
for better protection, significant Weight savings over existing competitors PV modules, longer life and cost less
than equivalent solar products, and are now offered in various sizes and colors. ln addition, QSolar offers solar
panels with positive tolerance which means that the customer will get a guaranteed output which can be up to
5% more than the actual specifications.