Canadian Quantum Energy Corporation
NEX BOARD : CQM.H

Canadian Quantum Energy Corporation

December 22, 2006 14:26 ET

Canadian Quantum Energy Corporation: Exercise of Warrants

LONDON, ONTARIO--(CCNMatthews - Dec. 22, 2006) - Douglas J. Brett, President of Canadian Quantum Energy Corporation (NEX BOARD:CQM.H) (the "Company") reports that private placement warrants to purchase a total of 294,000 common shares out of a total of 400,000 expiring on December 21, 2006 have been exercised. The Company has received gross proceeds of $51,450.

Douglas J. Brett, President & CEO of the Company, participated in the exercise of warrants as to 200,000 common shares for gross subscription proceeds of $35,000. As a result, Douglas J. Brett presently holds 21.48% of the Company's issued capital and would own 24.8% if all options owned by him are exercised and no other shares are issued by the Company.

The Company is a publicly traded junior oil and gas exploration and development company listed on the NEX Board of the TSX Venture Exchange under the symbol CQM.

CANADIAN QUANTUM ENERGY CORPORATION

Douglas J. Brett, President & CEO

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or are "subject to" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future share issuances by the Company. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Canadian Quantum Energy Corporation
    Douglas J. Brett
    President & CEO
    (519) 657-9303
    (519) 657-3633 (FAX)