SOURCE: Quantum Solar Power Corp.

February 01, 2011 09:05 ET

Quantum Solar Power Appoints New Investor Relations Firm

SANTA FE, NM--(Marketwire - February 1, 2011) - Quantum Solar Power Corporation ("Quantum") (OTCBB: QSPW) has entered into an Investor Relations Consulting Agreement (the "Agreement") with the firm Teatyn Enterprises Inc. ("Teatyn") of Surrey, British Columbia. Teatyn will provide Quantum with financial public relations, investor relations and shareholder services consulting. The principals of Teatyn have a combined financial consulting experience of more than 30 years. Teatyn has a proven track record of securing national and international media coverage and increasing market awareness for their clients.

Under the terms of the Agreement, Teatyn will provide services to increase investor awareness and market liquidity for the common shares of Quantum by providing the usual customary services provided by an investor relations firm.

As compensation for Teatyn's services, Quantum has agreed to pay an aggregate of $97,750 plus HST. The compensation will be paid in monthly increments of $8,500 plus HST, with a pro-rated final payment of $4,250 plus HST to cover the period from January 1, 2012 to January 14, 2012. Quantum has also agreed to sell to Teatyn at an aggregate consideration of $6,000 a total of 600,000 warrants. Each warrant will be exercisable to purchase one common share of Quantum at a price of $1.90 US per share.

The Agreement is for a period of one-year effective as of January 15, 2011.

Daryl Ehrmantraut, President and CEO of Quantum, remarked, "We believe Teatyn is the perfect firm to work with to achieve our goals. We hope to generate greater awareness within the investment community and alternative energy sector. We believe Teatyn's experience and track record will help us fulfill our corporate growth objectives relative to financial media coverage and investor relations."

About Quantum Solar Power Corporation
Quantum Solar Power Corporation is developing a "Next Generation Device" (NGD™) solar cell technology. Quantum's NGD™ is a patent pending, laboratory model that utilizes a new approach to solar power conversion with the potential to remove the necessity of utilizing expensive silicon semiconductor-based technologies. We believe Quantum's NGD™ technology has the potential to match the efficiency of crystalline silicon PV at the cost of thin film PV. The anticipated NGD™ technology is free of any rare-earth element dependencies found in other current solar technologies. We believe Quantum has the potential to create solar cells (through manufacturing partnerships) at significantly less cost per watt than current technology. Quantum Solar Power is headquartered in Santa Fe, New Mexico and can be found on the web at: www.quantumsp.com

Forward-Looking Statements
This news release contains forward-looking statements regarding future events and Quantum's future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act") and constitute "forward looking information" within the meaning of U.S. securities laws. These statements include statements about Quantum's planned technological development plan and are based on material factors and assumptions including Quantum's management's current expectations, estimates, forecasts, and projections about the industry in which Quantum operates and the beliefs and assumptions of Quantum's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Quantum's future financial performance, Quantum's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including the risk that Quantum's technological development plan may not be successful, and those risks identified in Quantum's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2010. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Quantum undertakes no obligation to revise or update any forward-looking statements for any reason.

Contact Information

  • Contact:

    Erik Cathcart
    Media Relations Contact
    Quantum Solar Power Corp.
    3900 Paseo Del Sol
    Santa Fe, NM 87507
    media@quantumsp.com
    +1 (505) 216-5021