QHR Announces $1,000,000 Private Placement

* Reuters is not responsible for the content in this press release.

Wed Jun 10, 2009 12:43pm EDT

  KELOWNA, BRITISH COLUMBIA, Jun 10 (MARKET WIRE) -- 
QHR Technologies Inc. ("QHR" or the "Company") (TSX VENTURE: QHR)
announced that the company has arranged a non-brokered private placement
to raise up to $1,000,000. The private placement consists of up to
2,000,000 units at a price of $0.50 per unit. Each unit consists of one
common share and one non-transferable share purchase warrant. One warrant
will entitle the holder to purchase one additional common share of the
Company exercisable at a price of $0.60 within one year of closing or
$0.70 within two years of closing.

    The Company proposes to use the proceeds from the private financing, for
general working capital purposes and to reduce some of its long-term debt
related to the recent acquisition of the Momentum Financials Division as
announced on January 19, 2009.

    The Company has entered a new phase of growth in 2009 and believes that
this investment will provide a stronger sustainable business for
customers and stakeholders.

    On behalf of the Board of Directors

    Al Hildebrandt, President and CEO

    Legal Notice Regarding Forward Looking Statements

    This news release may contain "forward looking statements" within the
meaning of applicable Canadian securities legislation. Forward-looking
statements are indicated expectations or intentions. Forward-looking
statements included in this news release include that, the Company has
entered a new phase of growth in 2009, and that, this investment will
provide a stronger, sustainable business for customers and stakeholders.
Results from operations in any given period are not necessarily
indicative of results to be expected in future periods. QHR is a
technology business where investment; various trends and factors in the
marketplace; and product enhancements must be carefully managed to
achieve long-term revenue growth and profitability. These statements are
subject to risks that may cause the actual results to be materially
different in future periods from those expressed or implied by such
forward looking statements. Factors which may delay or prevent these
forward looking statements from coming to fruition include our possible
inability to complete our contracted services, possible disputes with
customers, customer implementation delays or payment delays. In addition,
competitors may provide better products or services and our market may
decline. The Company's policy is not to update Forward Looking Statements.

    Further risk information on the Company is available at www.sedar.com.




 The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

Contacts:
QHR Technologies Inc.
Al Hildebrandt
(250) 979-1701
ahildebrandt@QHRtechnologies.com

Tangent Mgmt.
Investor Relations
1-866-345-0115
info@tangentmanagementcorp.com

Copyright 2009, Market Wire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.