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QRS ANNOUNCES INCREASE IN FINANCING TO RAISE UP TO $1,000,000

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  Published in Business and Finance on Tuesday, February 1st 2011 at 7:40 GMT by Market Wire
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THUNDER BAY, ON, Feb. 1 /CNW/ - QRS Capital Corp. (TSXV:QRS) ("QRS" or the "Company") is pleased to announce that due to strong investor demand for its recently announced non-brokered private placement (the "Non-Brokered Private Placement"), the Company has agreed to increase the size of the Non-Brokered Private Placement to raise up to a total of $1,000,000.

The Non-Brokered Private Placement will now include the issuance of an additional 1,000,000 units at a price of $0.25 per Unit, for a total of up to 4,000,000 Units to subscribers resident in Canada and certain offshore jurisdictions at the price of $0.25 per Unit.  Each Unit is comprised of one common share of the Corporation and one-half of one warrant of the Corporation, each whole Warrant being exercisable to acquire one common share of the Company at an exercise price of $0.35 per common share for a period of 24 months after the Closing Date.  QRS may pay a finder's fee to arm's length parties in an amount to be determined.

All of the Units issued under Non-Brokered Private Placement will be subject to a four month hold period. The Private Placement is subject to acceptance by the TSX Venture Exchange. The proceeds of this financing will be used for mineral exploration and general working capital purposes.

ON BEHALF OF THE BOARD OF DIRECTORS

"John Seaman"
John Seaman
Chairman & CEO

About QRS Capital Corp.
QRS is a mineral exploration company that holds an 80% beneficial interest in the Judith Property which consists of six mining lots and concessions that cover a combined area of approximately 597.5 hectares located in the City of Aldama, Chihuahua State, Mexico and is entitled to 70% of any net profits from the Judith Property. QRS also holds an option to purchase the remaining 20% beneficial and legal interest in the Judith Property for a payment of US$1.5 million before December 1, 2013. In the event QRS elects to exercise the option, a 20% interest in the Judith Property will vest in Norma Mines S.A. de C.V., a Mexican corporation that transferred its interests in the Judith Property to QRS pursuant to the terms of an Assignment, Assumption and Amending Agreement dated July 6, 2009, as amended.  QRS is actively seeking additional exploration stage copper and gold targets in South America, particularly in Colombia, Brazil, Chile and Equador.

Forward Looking Statements
This Company Press Release may contain certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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