News Release: Pender Files Updated Early Warning Report

PenderFund Capital Management Ltd. (Pender) today announced that it has updated its early warning report dated October 9, 2014 filed in respect of QHR Corporation (QHR or the Company). Pender, on behalf of the investment funds managed by it, exercises control and direction over a total of 7,909,483 common shares of QHR, representing approximately 15.9% of the outstanding common shares. Pender, on behalf of the investment funds managed by it, is considering and evaluating various means to enhance shareholder value at the Company and may seek to engage with management and the board of the Company in dialogue and actions related to such matters. Pender, on behalf of the investment funds managed by it, may decide to acquire or dispose ownership of, or control over, additional common shares of the Company for investment purposes as determined to be in the best interests of the investment funds at any time in the future.

Additional Information

Neither the issuance of this news release nor the filing by Pender of an “early warning” report required to be filed in accordance with applicable Canadian securities laws is an admission that any individual or entity named or referred to in this news release or in an “early warning” report of Pender owns or controls any described securities or is a joint actor with another individual or entity named or referred to in this news release.

The address of Pender and other contact information is set forth below. For further information, including to obtain a copy, once filed, of the “early warning” report required to be filed in accordance with applicable Canadian securities laws, contact Pender at the address specified below: