Quest Capital Completes Repurchase of Its Preferred Shares and Plans to Recommence Lending Activities
January 04 2010 - 9:30AM
Marketwired
Quest Capital Corp. (TSX: QC)(NYSE Amex: QCC) ("Quest" or the
"Company"), announces that on December 31, 2009 it made its final
payment to repurchase and retire all of its $40 million First
Preferred Shares, Series A (the "Preferred Shares").
"Quest is pleased to retire all of the remaining outstanding
Preferred Shares. Quest has made significant progress in reducing
expenses, monetizing its loan portfolio and improving its financial
flexibility. Last year and today's announcement is a clear signal
that Quest is gaining financial strength from these actions," said
A. Murray Sinclair, Quest Chairman. "This repayment is the first
step in our plan to recommence lending activities in 2010."
ABOUT QUEST
Quest Capital Corp. is a publicly traded mortgage investment
corporation. For more information about Quest, please visit our
website (www.questcapcorp.com) or SEDAR (www.sedar.com).
Forward Looking Statements
This press release may include certain statements that
constitute "forward-looking statements", and "forward looking
information" within the meaning of applicable securities laws
("forward-looking statements" and "forward-looking information" are
collectively referred to as "forward-looking statements", unless
otherwise stated). Such forward-looking statements involve known
and unknown risks and uncertainties that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Forward-looking
statements may relate to the Company's future outlook and
anticipated events or results and may include statements regarding
the Company's future financial position, business strategy,
budgets, litigation, projected costs, financial results, taxes,
plans and objectives. We have based these forward-looking
statements largely on our current expectations and projections
about future events and financial trends affecting the financial
condition of our business. These forward-looking statements were
derived utilizing numerous assumptions regarding expected growth,
results of operations, performance and business prospects and
opportunities that could cause our actual results to differ
materially from those in the forward-looking statements. While the
Company considers these assumptions to be reasonable, based on
information currently available, they may prove to be
incorrect.
Forward-looking statements should not be read as a guarantee of
future performance or results. Forward-looking statements are based
on information available at the time those statements are made
and/or management's good faith belief as of that time with respect
to future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in or suggested by the forward-looking statements.
To the extent any forward-looking statements constitute
future-oriented financial information or financial outlooks, as
those terms are defined under applicable Canadian securities laws,
such statements are being provided to describe the current
potential of the Company and readers are cautioned that these
statements may not be appropriate for any other purpose, including
investment decisions. Forward-looking statements speak only as of
the date those statements are made. Except as required by
applicable law, we assume no obligation to update or to publicly
announce the results of any change to any forward-looking statement
contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions or
changes in other factors affecting the forward looking statements.
If we update any one or more forward-looking statements, no
inference should be drawn that we will make additional updates with
respect to those or other forward-looking statements. You should
not place undue importance on forward-looking statements and should
not rely upon these statements as of any other date. All
forward-looking statements contained in this press release are
expressly qualified in their entirety by this cautionary
notice.
Contacts: Quest Capital Corp. A. Murray Sinclair Chairman (800)
318-3094 or (604) 687-8378 Quest Capital Corp. Jim Grosdanis CFO
(800) 318-3094 or (604) 687-8378 www.questcapcorp.com
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