Quantex Capital Corporation

Quantex Capital Corporation

May 03, 2007 09:31 ET

Quantex Announces Restructuring

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2007) - Quantex Capital Corporation (PINK SHEETS:QCPC) announced today that on April 27, 2007 the Company concluded a Shares for Debt Transaction with Old Yale Ventures Limited Partnership ("Old Yale") by issuing Old Yale 14,651,988 common shares in settlement of a debt of C$1,702,000. The settlement released the Company from all indebtedness to Old Yale and released the security that Old Yale held on the shares of Samlex America, Quantex's 85% owned Canadian subsidiary.

On April 30, 2007, Quantex reached an agreement to sell its 85% ownership of Samlex America. The purchase price mainly consisted of an assumption of debt obligation of the company.

The Company has used the cash proceeds from the Samlex America sale and the issuance of common shares to successfully negotiate debt settlements with a majority of the remaining creditors.

These settlements and the divestment of Samlex America will make Quantex one step closer to a strategic plan of repositioning itself with new business opportunities.

To achieve this end, the current board of directors, Len Goossen, Matt Reams and Evan Baergen, has resigned effective May 2, 2007. Effective immediately, a new director, who is part of a group that will implement the strategic plan of the Company, has agreed to serve as a director and officer and has replaced Evan Baergen as CEO and President of the Company.

Quantex Capital is a US based publicly traded firm (PINK SHEETS:QCPC) which specializes in the acquisition of controlling interest in solid companies operating in the power conversion and supply industry, and providing long-term management and business growth solutions to its subsidiaries. Visit www.quantexcapital.com for more information. The company's largest holding is Samlex America, www.samlexamerica.com, a distributor of a variety of power conversion products.

This news release may contain forward-looking statements that are based on management's current expectations, which are subject to known and unknown uncertainties and risks. This could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Maxxcapp is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

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