TEMPE, AZ--(Marketwired - Mar 21, 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 non-binding Letter Of Intent with Ceres Global Ag Corp. (TSX: CRP), to evaluate the use of Ceres' Northgate Terminal as an in-take and off-take partnership for the Stoughton refinery in Saskatchewan. "Having this LOI in place has allowed both parties to functionally move forward toward an agreement," said Keith Stemler, Dominion CEO. "Ceres Northgate Terminal, through its connection to the BNSF Railway, has agreed to assess supplying supplemental Bakken Sweet Crude for the Stoughton Refinery as well as purchasing finished product off-take such as ULS diesel, ULS Gasoline and Jet 'A' fuels," Stemler added. "Dominion and our Engineer of Record EOR will work closely with Ceres to explore all commodity requirements and Canadian and US logistics to and from the Northgate terminal," said Stan Wilson, Quantum CEO.
"We are pleased to be working with this dynamic group," Stemler stated.
Although there can be no assurances that Dominion and Ceres will enter into a binding agreement, both Dominion and Ceres are mutually working to achieve that goal through this LOI.
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 www.quantum-e.com.
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 www.dominionenergyca.com.
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