QI Technologies Listing On NASD OTC Bulletin Board Approved; CDNX Name Change to QI Systems Inc. Approved & Effective May 25, 2001.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--May 24, 2001 QI Technologies Corp. is pleased to announce that the Common Shares of the Company commenced trading on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). (Symbol QONEF) on May 23, 2001, following approval for listing on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . In order to better reflect the true nature of the Company's business as it is today, the Company's name on the CDNX CDNX See Canadian Venture Exchange (CDNX). will be changed to QI Systems Inc. effective May 25, 2001. At the same time, a new CDNX trading symbol Trading symbol See: Ticker symbol , QII QII Quality Institute International , will be effective that day. The governing body of the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) (CDNX) accepted the Company's application to change its name from QI Technologies Corp. to QI Systems Inc. (See press release January 12, 2001). The new CUSIP number as of May 25, 2001 is no. 74728R106. Upon receiving the formal name change documentation from the CDNX, the Company will seek a name and trading symbol change from the NASD governing body for the OTCBB listing. QI Technologies Corp., (www.qitech.com) incorporated in 1974, is a public company located in Vancouver, B.C., Canada, which designs hardware and software for the rapidly expanding cash card industry. It is a leader in supplying solutions for smart card vending with products in use in Canada, the US, Venezuela, Hong Kong, the UK, and Norway. Products are also positioned for deployment in the Philippines, Chile, Korea, Japan and South Africa. QI's SmartKit technology enables debit card purchases by consumers from a wide range of vending machines types. The SmartKit is currently being used in conjunction with many card schemes, including VisaCash, Mondex (Multos), CANTV CANTV Compañía Anónima Nacional Teléfonos de Venezuela (Venezuelan phone card), Telus SmartONE card and others. Due to the modular structure of the SmartKit, multiple card schemes can be run in parallel in the same unit with new schemes added at a later date. QI's SmartKits have been installed in Coca-Cola and Pepsi vending machines, coffee, snack and sandwich machines, laundromat machines (Maytag), copiers, newspaper vending boxes for such publications as USA Today and in parking machines.
Approved on behalf of the Board
"Mesbah Taherzadeh"
Mesbah Taherzadeh
President & CEO
For further information contact:
Craig Jones, QI Technologies Corp.
Suite 1070-1200 West 73rd. Avenue, Vancouver, BC, Canada V6P 6G5
Telephone: 604.264-9930/ Facsimile: 604.264.9926/ www.qitech.com
Investor Relations - DP Martin & Associates : 800.288.7499
www.info@dpmartin.com
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this news release.
Canadian Venture Exchange Symbol: QTC
OTCBB Symbol: QONEF
Berlin Stock Exchange WKN#: 865679
Cusip: 74725N10
SEC File No.030948
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