CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX VENTURE:CQM) announced today that, further to its press releases dated April 25, 2014, May 6, 2014 and May 26, 2014, pursuant to the investment agreement with Lang International Holdings Limited, a company registered in the British Virgin Islands, and Douglas Brett, the President and Chief Executive Officer of the Company, the Company completed the second and final tranche of its previously announced private placement offering (the "Equity Private Placement") of common shares of the Company ("Common Shares"), subject to TSX Venture Exchange final approval. Pursuant to the closing of the final tranche of the Equity Private Placement, a third party purchased 1,090,000 Common Shares at a price of $0.10 per Common Share for gross proceeds of $109,000.
The proceeds from the Equity Private Placement will be used for the exploration program on the Company's Alexander project and for general working capital. The Common Shares issued in connection with the final tranche of the Equity Private Placement are subject to a hold period that expires on October 3, 2014.
About Canadian Quantum
Canadian Quantum is actively pursuing oil and gas opportunities in Western Canada and continues to hold various interests in approximately 174,000 gross acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.