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QRS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT TO RAISE UP TO $2,015,000

^{Published on 2011-04-07 10:30:50 - Market Wire}
 

THUNDER BAY, ON, April 7 /CNW/ - QRS Capital Corp. (TSXV:QRS) ("QRS" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 3,100,000 units (the "Units") to subscribers resident in Canada and certain offshore jurisdictions at a price of $0.65 per Unit for gross proceeds of up to $2,015,000. Each Unit will be comprised of one common share of the Company and one-half of one warrant of the Company (the "Warrants").  Each whole Warrant will entitle the holder thereof to acquire one common share of the Company at an exercise price of $0.80 per common share for a period of 24 months after the closing date of the Private Placement. In connection with the Private Placement, QRS may pay a finder's fee, payable in Units, to certain arm's length parties in an amount equal to 8% of the aggregate gross proceeds raised under the Private Placement from subscribers introduced to the Company by such parties.

The securities issued under the Private Placement will be subject to a statutory hold period which will expire four months and one day from the date of the closing of the Private Placement. The Private Placement is subject to acceptance by the TSX Venture Exchange and other customary conditions for a transaction of this nature. The proceeds of the Private Placement will be used for mineral exploration activities of the Company and for 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 located in the City of Aldama, Chihuahua State, Mexico.  QRS 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. QRS is actively seeking additional exploration stage copper and gold properties in South America, particularly in Colombia, Brazil, Chile and Ecuador.

Forward Looking Statements

This 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, but not limited to, 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