MATERIAL CHANGE REPORT
A. Murray Sinclair, Chairman or Jim Grosdanis, Chief Financial Officer
Telephone: (800) 318-3094 or (604) 687-8378
Name and Address of Company
QUEST CAPITAL CORP. (the “ Corporation ”)
Suite 1028 – 550 Burrard Street
Vancouver, BC V6C 2B5
Date of Material Change
The material change occurred on January 4, 2010.
The Corporation issued a press release on January 4, 2010, through Marketwire via Canadian Timely
Disclosure and US Timely Disclosure.
Summary of Material Change
On December 31, 2009, the Corporation announced that it had made its final payment to repurchase
and retire all of its outstanding $40 million First Preferred Shares, Series A (the “Preferred Shares”).
Full Description of Material Change
5.1 Full Description of Material Change
See “Schedule A” attached hereto.
5.2 Disclosure for Restructuring Transactions
Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
The name and business number of an executive officer of the Company who is knowledgeable about
the material change and this report is:
Date of Report
January 4, 2010
QUEST CAPITAL COMPLETES REPURCHASE OF ITS PREFERRED SHARES
AND PLANS TO RECOMMENCE LENDING ACTIVITIES
Vancouver, British Columbia – Quest Capital Corp. (“Quest” or the “Company”), announces that on December
31, 2009 it made its final payment to repurchase and retire all of its $40 million First Preferred Shares, Series A
(the “Preferred Shares”).
“Quest is pleased to retire all of the remaining outstanding Preferred Shares. Quest has made significant progress
in reducing expenses, monetizing its loan portfolio and improving its financial flexibility. Last ye