Questor Announces Formation of Special Committee to Support Leadership Transition and Strategy Refresh
CALGARY, Albe ta, July 16, 2026 (GLOBE NEWSWIRE) — Questo Tech ology I c. (“Questo ” o the “Compa y”) (TSX-V: QST) immediately a ou ced that, i gentle of its o goi g leade ship t a sitio a d the authorized p oceedi gs i itiated by fo me P eside t a d CEO Aud ey Masca e has agai st the Compa y, its i depe de t di ecto s a d CFO (the “Authorized P oceedi gs”), the Boa d of Di ecto s of the Compa y (the “Boa d”) fo med a particular committee of i depe de t di ecto s of the Boa d (the “Particular Committee”) o Ju e 11, 2026. O July 13, 2026, the Boa d app oved a expa ded ma date fo the Particular Committee, autho izi g it to ove see the ocean ch fo a ew pe ma e t Chief Govt Workplace , explo e pote tial st ategic alte atives, a d make ecomme datio s to the Boa d o such matte s.
The Particular Committee is comp ised of Bastie Commet, Paul Huizi ga, Saj Shapi o a d Jaso Smith, every of whom is a i depe de t di ecto of the Compa y. The Particular Committee ope ates with full autho ity to etai fi a cial, authorized, a d othe p ofessio al adviso s because it co facet s app op iate.
O Ju e 11, 2026, Questo disclosed o e of the Authorized P oceedi gs, i espect of Ms. Masca e has’s stateme t of declare filed on the Cou t of Ki g’s Be ch of Albe ta allegi g claims of opp essio , w o gful te mi atio a d elated claims a d elief totali g ove $26 millio agai st the Compa y, its i depe de t di ecto s a d CFO. The othe of the Authorized P oceedi gs i volves a seco d stateme t of declare filed on the Cou t of Ki g’s Be ch of Albe ta allegi g w o gful te mi atio agai st the Compa y a d seeki g a amou t equal to 26 mo ths of he whole compe satio plus additio al damages. The i depe de t di ecto s a d ma ageme t dispute the allegatio s a d i te d to defe d the i te ests of the Compa y a d its sha eholde s.
“Questo is movi g fo wa d with pu pose,” mentioned Paul Huizi ga, Chai of the Particular Committee. “Ou focus is o secu i g the ight pe ma e t leade ship fo Questo a d e su i g sha eholde s have full visibility i to that p ocess. The Boa d a d Particular Committee a e fi mly i co t ol of this t a sitio , a d will ot be dist acted f om d ivi g worth c eatio fo all sha eholde s.”
No decisio s elati g to the ew CEO sea ch o a y pote tial st ategic alte ative have bee made as on the date of this ews elease. The Compa y has ot eceived a y p oposal with espect to a goi g-p ivate t a sactio o a y othe st ategic t a sactio . The e a e o assu a ces {that a} y st ategic alte ative will probably be ide tified o pu sued f om the Particular Committee’s st ategy ef esh p ocess. The Compa y will co ti ue to p ovide updates o the CEO sea ch a d st ategy ef esh p ocess i acco da ce with relevant secu ities legal guidelines a d as developme ts wa a t.
Questo Tech ology I c., i co po ated i Ca ada u de the Busi ess Co po atio s Act (Albe ta), is a e vi o me tal emissio s eductio tech ology compa y fou ded i 1994, with world ope atio s. The Compa y is targeted o clea ai tech ologies that safely a d cost-effectively imp ove ai high quality, suppo t e e gy efficie cy a d g ee home gasoline emissio eductio s. The Compa y desig s, ma ufactu es a d se vices excessive efficie cy clea combustio methods that dest oy ha mful polluta ts, i cludi g metha e, hyd oge sulfide gasoline, risky o ga ic hyd oca bo s, haza dous ai polluta ts a d BTEX (be ze e, tolue e, ethylbe ze e a d xyle e) gases withi waste gasoline st eams at g eate tha 99.99 pe ce t efficie cy pe its ISO 14034 Ce tificatio . This e ables its clie ts to satisfy emissio egulatio s, educe g ee home gasoline emissio s, add ess commu ity co ce s a d imp ove security at i mud ial websites.
The Compa y additionally has p op ieta y heat-to-powe ge e atio tech ology a d is cu e tly ta geti g ew ma kets i cludi g la dfill biogas, sy gasoline, waste e gi e exhaust, geothe mal a d sola , ceme t pla t waste warmth i additio to a large va iety of oil a d gasoline p ojects. The combi atio of Questo ’s clea combustio a d powe ge e atio tech ologies ca assist clie ts obtain et-ze o emissio ta will get fo mi imal value. The Compa y can also be doi g esea ch a d developme t o knowledge solutio s to delive a i teg ated system that amalgamates all of the emissio detectio knowledge accessible to demo st ate a clea pictu e of the location’s emissio p ofile.
The Compa y’s commo sha es a e t aded o the TSX Ve tu e Excha ge u de the image “QST”. The add ess of the Compa y’s co po ate a d egiste ed workplace is 1920, 707 – 8th Ave ue S.W. Calga y, Albe ta, Ca ada, T2P 1H5.
Neithe TSX Ve tu e Excha ge o its Regulatio Se vices P ovide (as that te m is defi ed i the insurance policies of the TSX Ve tu e Excha ge) accepts espo sibility fo the adequacy o accu acy of this elease.
