Canadian Quantum Energy Corporation

Canadian Quantum Energy Corporation

July 15, 2013 13:52 ET

Canadian Quantum Closes Debenture Amendment

CALGARY, ALBERTA--(Marketwired - July 15, 2013) - Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Corporation") (TSX VENTURE:CQM) announced today that the Corporation has completed an amendment (the "Amendment") to the outstanding convertible debentures ("Debentures") in the aggregate principal amount of $1,500,000, as previously disclosed on May 31, 2012 and November 12, 2013, subject to TSX Venture Exchange final approval. Pursuant to the Amendment, the aggregate principal amount of the Debentures was increased by an additional aggregate amount of $150,000 and the conversion price was reduced to $0.10 per share for the remainder of the term. Interest on the outstanding balance will now be payable on the earlier of the maturity date of May 30, 2014 or upon conversion of the Debentures into shares, rather than being paid monthly. In addition, the Corporation has agreed not to sell its current interest in the four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play, without the prior consent of the holders of the Debentures. All of the other terms of the Debentures will remain the same.

No finder's fees were paid on this transaction. Pursuant to the Amendment, the Debentures and any common shares issued upon conversion of the Debentures, will be subject to a four month hold period expiring on November 12, 2013 The net proceeds of the Debenture will be used for exploration programs and for general working capital.

About Canadian Quantum

Canadian Quantum Energy Corporation holds 640 gross acres at Turin, Alberta and 17,280 gross acres / 27 sections on the Alexander First Nations Permit in Central Alberta along with 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 The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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