QSolar and Senior Officers Reach Mutual Agreement and Discontinue Claim Against Leede and Taboika

Calgary, Alberta (FSCwire) - (CSE:QSL, FSE:Q20) - QSolar Limited ("QSolar" or the "Corporation") today announced that the claim (the "Claim") filed in the Court of Queen's Bench of Alberta against Leede Financial Markets Inc. ("Leede"), and Leede's Executive Vice President and a director, Victor Taboika ("Taboika"), has been discontinued by the Corporation, Andreas Tapakoudes and Preston Maddin.

After discussion amongst the parties, the parties were able to come to a resolution which led to the discontinuance of the Claim.

QSolar thanks Leede and Taboika for their understanding in clarifying matters and engaging to reach this prompt resolution and, further, wishes to thank Leede for its advice and guidance since its debut as a listed company.  Mr. Andreas Tapakoudes, President and CEO of QSolar stated that: "We believe that resolution of the issues between the parties will allow a cooperative effort focused on the growth of QSolar.  We look forward to working with Leede and Taboika in the future success of QSolar".

Taboika, Executive Vice President of Leede, stated that: "We appreciate the attention given by QSolar and its senior officers to resolve this matter promptly.  We continue to be impressed by the potential for QSolar's revolutionary technology, SprayTech 99, in developing the world's first non‑glass solar panels.  We look forward to working with QSolar's management and we also look forward to QSolar's future successes, including achievement of product certifications and advancement of commercialization of the Corporation's technology in various modes."

Additional information on QSolar Limited may be accessed through the CSE website (www.cnsx.ca) and SEDAR website (www.sedar.com) under the profile for QSolar.

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Forward-Looking Statements

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Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether QSolar is able to meet price, performance, quality and delivery requirements. Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward looking information. QSolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

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