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Quantum Energy Inc. (OTC: QEGY) has announced a new $2 million stock buy-back program approved by its Board of Directors on April 8, 2022. This initiative follows a previous successful buy-back, where over 27 million shares were repurchased, helping to reduce outstanding shares significantly. The program will operate until August 31, 2022, allowing stock purchases at a volume-weighted average price, funded primarily by cash-on-hand. The company emphasizes that the improved balance sheet enables this strategic move to enhance shareholder value.
Quantum Energy Inc. has appointed Craig Kitchen to its Board of Directors, effective immediately, strengthening its leadership team. Mr. Kitchen brings extensive experience from his tenure in the Air Force and roles in aerospace and technology companies. The company has also announced plans to hire 22 new employees at its Byron Rare Earth Processing Center in Wyoming, supporting its growth in the rare earth market. The relocation of its security division and the ongoing hiring initiatives underscore Quantum's focus on expanding its operations in the rare earth mineral industry.
Quantum Energy Inc. (OTC: QEGY) has announced the retirement of 26,832,298 common shares, bringing the total outstanding shares down to 23,006,331 from 49,838,629. This significant reduction stems from settlement agreements with former officers, directors, and a shareholder. The CEO emphasized the importance of these retirements in protecting shareholder value, while the CFO reaffirmed the company's commitment to safeguard legitimate shareholder interests. This move reflects Quantum's ongoing efforts in corporate governance and shareholder value enhancement.
Quantum Energy Inc. (OTC: QEGY) has announced a significant reduction in its outstanding common shares, down to 30,455,943 from 49,838,629, representing a 39% decrease. This reduction follows settlement agreements with four former officers and one former affiliate shareholder, resulting in the retirement of 19,382,676 shares. Additionally, CFO William Westbrook emphasized their commitment to protect shareholder value. The company has also filed a lawsuit seeking the return of 3.4 million shares and monetary damages against John Suprock and PSC Advisors, alleging breaches of contract.
Quantum Energy Inc. (OTCPINK: QEGY) has announced the resignation of Mr. Robert Henry from its Board of Directors, effective October 18, 2021. The company expressed gratitude for Mr. Henry's service and confirmed that he will be eligible for any director awards or compensation until the end of the fiscal year on February 28, 2022. Quantum Energy operates in energy project development, focusing on refinery operations in the U.S. and Canada, including the processing of rare earth elements.
Quantum Energy Inc. (QEGY) has appointed Robert Edward Murray as Vice President of Exploration and Conservation to lead its rare earth projects. Effective immediately, this pivotal hire follows a ten-month selection process. Murray boasts a solid background in mining engineering and extensive experience in business development, notably as Executive Vice President of Murray Energy Corporation. His role includes overseeing exploration and environmental operations across Wyoming and Ohio, leveraging the company's technology to extract rare earth elements from waste streams, and managing the magnet reclamation division.
Quantum Energy Inc. (QEGY) has made significant strides in its $2.0 million stock buyback program, raising the budget to $3.0 million. The program has successfully reduced the shares in circulation from 48,491,485 to 29,549,935, marking a 39% decrease. CEO Harry Ewert highlighted the program's role in strengthening the company's balance sheet and positioning it for growth. CFO William Westbrook confirmed that the buyback will primarily utilize cash on hand, contributing to the company's liquidity and financial strength.
Quantum Energy Inc. (QEGY) has announced an extension of its $2.0 million Stock Buyback Program, increasing the budget to $3.0 million. Since the program's initiation on July 22, 2021, shares in circulation have been reduced from 48,491,485 to 37,658,935. CEO Harry Ewert emphasized the program's role in enhancing shareholder value and supporting balance sheet growth this year. CFO William Westbrook stated that the buyback will primarily utilize cash on hand, which continues to strengthen the company's liquidity. More details will be shared in an upcoming investor broadcast.
Quantum Energy Inc. (OTC:QEGY) has announced a $2.0 million stock buyback program, effective July 22, 2021, which can be expanded to $3 million upon CFO recommendation. The company is witnessing growth in its liquidity and balance sheet through a successful $50 million private placement and a $15 million municipal bond program. The buyback aims to enhance shareholder value. The program will conclude on August 20, 2021, with repurchases funded primarily by cash on hand. Further insights will be shared in an upcoming investor broadcast.
Quantum Energy Inc. (QEGY) announced approval for a $15 million Municipal Bond Issue in Wyoming, part of a larger $50 million Private Placement. This includes $5 million in tax-free bonds, with Stifel Investment Banking managing the offering. The company has secured $15 million in cash for the placement, with an average subscription price of $0.75 per share. CEO Harry Ewert emphasized the growth potential and job creation in Byron, Wyoming. Quantum aims for an OTC.QB listing and plans to maintain minimal expenses while targeting revenue growth in key markets.
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