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Questor Technology Inc. Announces Grant of Share Based Awards, Changes in Board Composition and Bank Facilities

V.QST

CALGARY, Alberta, July 05, 2022 (GLOBE NEWSWIRE) -- Questor Technology Inc. ("Questor", the “Company”), (TSX Venture Exchange: QST), announces that the Board of Directors of the Corporation granted 127,500 Restricted Share Units (RSU’s), 127,500 Performance Share Units (PSU’s) and 16,876 Deferred Share Units (DSU’s) pursuant to receiving TSX Venture Exchange approval on June 30, 2022 of the Company’s Incentive Plans, dated June 15, 2022, to certain of its officers and directors at an exercise price of $1 on July 4, 2022.

Upon the granting of the RSU’s, PSU’s and DSU’s described above, Questor will have 1,109,344 security based compensation awards outstanding. The aggregate amount represents 4% of the 27,761,858 common shares currently outstanding. Questor's security based compensation plans currently limit the issuance of share based awards to no more than 10% of the outstanding common shares.

Questor also announces that Marcel Kessler has resigned from the Board effective June 27, 2022, to accept a new position as CEO and President of GrafTech International. The Company thanks him for his service.

The Company has not drawn on either its $1 million operating loan facility or $5 million capital loan facility in the past two years, nor is it anticipating needing them for the upcoming year, therefore the Company has cancelled these facililties and the bank is in the process of removing the general security agreement it holds over the Company’s assets.

About Questor Technology Inc.

Headquartered in Calgary, Alberta, with operations across North America, the Company provides specialized waste gas clean combustion technology and services that destroy harmful pollutants in any waste gas stream at 99.99 percent efficiency enabling its clients to meet emission regulations, reduce greenhouse gas emissions, address community concerns and improve safety at industrial sites. The Company also has proprietary heat to power generation technology and data solutions to deliver an integrated system that amalgamates all of the emission detection data available and demonstrates how Questor’s combustion and power generation technologies can be used to help clients achieve net zero emission targets at their sites.

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

Audrey Mascarenhas Ann-Marie Osinski
Chief Executive Officer Chief Financial Officer
Phone: (403) 571-1530 Phone: (403) 539-4371
Facsimile: (403) 571-1539 Facsimile: (403) 571-1539
Email: amascarenhas@questortech.com Email: aosinski@questortech.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.

This document is not intended for dissemination or distribution in the United States.


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