SOURCE: Quantum Solar Power Corp.

Quantum Solar Power Corp.

October 05, 2010 06:00 ET

Quantum Solar Power Issues Common Stock

SANTA FE, NM--(Marketwire - October 5, 2010) -  Today Quantum Solar Power Corporation ("Quantum") (OTCBB: QSPW) issued an aggregate of 1,060,000 shares of common stock to persons outside the United States (non-US citizens or agents thereof). The shares were issued in compliance with Regulation S of the Securities Act of 1933 and represent a portion of the $5,000,000 foreign private placement offering previously approved by the Company's board of directors. There are no assurances that the remainder of the offering will be completed.

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 Annual Report on Form 10-K for the fiscal year ended June 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