SOURCE: Quantum Energy, Inc.

April 06, 2017 07:00 ET

Dominion Energy Processing Group, Inc. Announces Refinery Offtake Signing

TEMPE, AZ--(Marketwired - Apr 6, 2017) - Refinery and energy processing developer Quantum Energy, Inc. (OTC PINK: QEGY) today announced that its Canadian subsidiary, Dominion Energy Processing Group, Inc., has signed a Letter of Intent with FHQ Developments Ltd, a development company of the File Hills Qu'Appelle Tribal Council. FHQTC represents more than 14,000 First Nation citizens in eleven member First Nations communities in the province of Saskatchewan. The signing of this LOI is for the purpose of Finished Product Distribution by FHQ as an off-take partnership for the Dominion Stoughton refinery in Saskatchewan. "This refined product offtake LOI was forged through the progressive development efforts of both FHQ and Dominion in support of the project and local stakeholders," said Keith Stemler, Dominion CEO. "FHQ and Dominion will continue to develop off take fuel distribution requirements in the province for ULS diesel, ULS Gasoline and Jet 'A' fuels," Stemler added. "Dominion and FHQ have been working diligently to execute this milestone as offtake buyers are a key to the project development," said Stan Wilson, Quantum CEO.

"We are pleased to be working with this important group," Stemler stated. 

This FHQ offtake signing follows the recent announcement of the Dominion alliance with Ceres Global Ag Corp. for both crude supply and refined product offtakes. 

About Quantum Energy, Inc.

QUANTUM ENERGY, INC. is a publicly traded, diversified holding company. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution primarily in the Bakken field

DOMINION ENERGY PROCESSING GROUP, INC. is a Canadian corporation established as a wholly owned subsidiary of Quantum for the purpose of transacting the development and operation of energy processing facilities in Canada with its primary focus on its project in the Stoughton, Saskatchewan region

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To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

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