QHR TECHNOLOGIES REPORTS TANGENT INVESTOR RELATIONS AGREEMENT
July 4, 2005 (QHR-TSX Venture Exchange) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to announce that the Company has retained the services of Tangent Management Corp. to provide investor relations services. Tangent is a management and financial consulting firm that specializes in assisting publicly traded companies design, implement and monitor strategies to build and sustain investor support. The principals of Tangent are Zachery Dingsdale and Stephen Smith.
Tangent has agreed to assist the Company in formulating plans and budgets for the enhancement of the Company’s image and the distribution of information concerning the Company; in preparing corporate presentations; and in engaging in an extensive market awareness campaign.
The Company will pay Tangent a one-time set-up fee of $5,000 (plus GST). Thereafter, the Company will pay Tangent the sum of $5,000 per month (plus GST) for Tangent’s ongoing services, and will reimburse Tangent for pre-approved expenses incurred by it on behalf of the Company. Messrs. Dingsale and Smith will also each receive options from the Company to purchase up to 135,000 of our common shares, 75,000 of which vest immediately and are exercisable at $0.50 per share, and 60,000 of which vest in one year and are exercisable at $0.75. The exercise period for the options is two years from the date of vesting.
The arrangements with Tangent are in effect until June 30, 2007, unless earlier terminated on thirty days prior notice. Tangent and its principals are at arm’s length to the Company, and to the best of our knowledge, neither Tangent nor its principals currently own any of our common shares.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company’s website, www.QHRtechnologies.com
This news release may contain opinions and forward-looking statements that reflect the Company’s current expectations, forecasts and assumptions. These may involve risks and uncertainties that could cause actual future results to be materially different. Investors are cautioned against placing undue reliance on forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Directors
Al Hildebrandt President & Chief Executive Officer
