Calgary, Alberta CANADA, January 30, 2012 /FSC/ - QSOLAR Limited (QSL - CNSX),(the "Corporation") is pleased to announce that Preston J. Maddin has been appointed to the role of Chief Financial Officer and has joined the board of directors of QSolar Limited and its wholly-owned operating subsidiary, QSolar Ltd.
Mr. Maddin, B.Comm., CMA based in Calgary, Alberta has over 30 years of experience as a businessman and entrepreneur. Before joining QSolar, Mr. Maddin has held various senior executive and advisory positions and directorships with leading private, public, domestic and international companies. Over the past twenty years, Mr. Maddin has been involved in founding, acquiring, operating and advising many successful private and public companies in a wide variety of businesses domestically and international and specializing in emerging and junior companies. Since 1984 he is the President and CEO of SeaHawk Capital Corporation, a private management, advisory and investment corporation providing advice and services in the areas of corporate and strategic development, corporate finance, business plan execution and merger acquisition execution. Most recently Mr. Maddin served as President and CEO of CNSX listed VisionSky Corp. from 2003 until March 2011 after successful disposition of the operating assets of its wholly-owned subsidiary and change of control of the parent in March 2011. Mr. Maddin is a business and finance graduate of the University of Saskatchewan and professional accountant.
Mr. Maddin has significant and extensive expertise in capital market, private equity and international transactions as well as in the areas of strategic execution, business, corporate finance, M&A and accounting. Mr. Maddin has also been involved directly in various capacities in approximately 30 public listings during his career.
Mr. Andreas Tapakoudes, President and CEO of QSolar commented, "We are pleased to have Preston Maddin assume the role of chief financial officer of QSolar and joining our board of directors. In addition to being a skilled professional and businessman with broad capital market experience, Preston has a strong track record from both a hands-on operating, financial management business model prospective and in managing the capital markets elements, which can be so critical to the success of an emerging public company. I know Preston is committed to help the QSolar team realize our strategy and the value of our, patent portfolio library, processes and technologies we have developed and realize the value we intend to bring to our shareholders. I look forward to working with him."
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., develop patented and proprietary solar related processes and technologies, and manufacture and sell their own proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in its new manufacturing facilities in Shanghai, China using its proprietary patent pending Spraytek(r), Kruciwatt(r) and ESS process and its own designs. QSolar products were initially introduced by QSolar in July 2010 and have attracted significant interest, orders and letters of intent from European and U.S. markets generated by its sales office in France and through its various sales representatives. QSolar Spraytek(r) 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, longer life and cost less than equivalent solar products, and are now offered in various sizes and colors. In 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.
Additional information on the operations or financial results of QSolar Limited and QSolar Ltd. are included in reports on file with applicable securities regulatory authorities and may be accessed through the CNSX website (www.cnsx.ca) and the Sedar website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andreas Tapakoudes, Chief Executive Officer
QSolar Limited
Telephone: 011-44-7534-711-503
Email: andreas@QSolar-Limited.com
Preston J. Maddin, CFO
QSolar Limited
Telephone: 403-617-0000
email: preston@pacificroyalty.com
The CNSX has neither approved nor disapproved the contents of this press release. The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology.
Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether QSolar Limited is able to meet price, performance, quality and delivery requirements. Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. QSolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
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Source: QSOLAR Limited (CNSX: QSL) http://www.qsolar.net
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