SOURCE: Quantum Energy, Inc.

August 02, 2016 09:30 ET

Quantum Energy, Inc. Completes Acquisitions

TEMPE, AZ--(Marketwired - Aug 2, 2016) -  Quantum Energy, Inc. (OTC PINK: QEGY), a diversified energy holding company, is pleased to announce that it has begun to diversify its refinery development plan through the acquisition of opportunistic projects which generate revenue for the company. The first such projects are oil and gas prospects and properties. QEGY has simultaneously acquired a company with approximately 3,000 acres and 89 well bores in the Texas Panhandle along with an approximate 5% working interest in a heavy oil project in Missouri. "These acquisitions add $3,500,000 in assets along with $1,900,000 of net equity," said Stan Wilson, Quantum Chairman. Both acquisitions were completed by means of a share exchange and contribution agreement.

Quantum continues its Bakken refinery development projects with ongoing permitting efforts in North Dakota and an increased emphasis on a 40,000 bpd proposed project in the Stoughton area of Saskatchewan, Canada. Quantum is in the process of forming a Canadian subsidiary, Energy Processing Group, Inc., to develop the Stoughton processing center and will be announcing its board and officers soon.

Chairman Wilson has assumed the role of CEO replacing Andrew Kacic upon his resignation as an officer and director effective July 1, 2016.

About Quantum Energy, Inc.

QUANTUM ENERGY, INC. is a development stage, publicly traded, diversified holding company. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution and has entered into a Strategic Alliance with Bilfinger Westcon (www.westconindustries.com) to develop multiple Energy Centers that include a 40,000 barrel per day full scale refinery within the Bakken. www.quantum-e.com

Safe Harbor Forward-Looking Statements

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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