Quantum Energy Inc (QEGY) Announces Municipal Bond Approval and Update on Private Placement and OTC.QB Listing

Rhea-AI Summary

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.

Positive

• Approval of a $15 million Municipal Bond Issue in Wyoming.
• Successful subscription of $15 million cash from Private Placement.
• Low interest debt secured through Municipal Bonds.
• Strategic plan to target revenue growth within vertical markets.

Negative

• None.

WASHINGTON DC and HENDERSON, NV / ACCESSWIRE / July 12, 2021 / Quantum Energy Inc. (OTC PINK:QEGY) ("Quantum") is pleased to announce the approval of a Municipal Bond Issue and an update on its $50 Million Private Placement

The Company announces that it has received approval of its $15MM Municipal Bond Issue in the State of Wyoming. The Municipal Bonds included in the Company's Private Placement include $5MM in tax free Municipal Bonds approved by the State of Wyoming. The Municipal Bond offering will be handled by Stifel Investment Banking.

The Company is also proud to announce that it has successfully subscribed $15MM in cash of its Private Placement, in addition to the Municipal Bond program.

Harry Ewert, Chief Executive Officer, stated "We thank Governor Gordon for his support and approval of the Municipal Bond issue, and we also thank Byron Wyoming Mayor Pam Hopkinson for her tireless efforts on the Bond package. Mayor Hopkinson, and the Town Council members have set the stage for growth and jobs in Byron and the surrounding county."

The Company has also subscribed $15MM of its Private Placement. Douglas Bean, Director stated "The Private Placement has been very well received and is a unique combination of cash investment, and a Municipal Bond package that has offered an average subscription price at $ .75 cents per share, and relatively low interest debt.

This is a solid balance sheet platform in which to grow the business." Bean further stated "While I offer this only as an estimate, I can see the Company closing the completed Private Placement by mid-September."

William Westbrook, CFO has also confirmed that the Company has now met all of its filing requirements, and has applied for listing on the OTC.QB as a fully reporting company. "The Company goal is to greatly increase transparency, that will allow for future forecasting, and access to debt for growth".

Mr. William Hinz, Chairman stated; "Harry and Will have excelled. They have reorganized and rebuilt Quantum into a fully reporting, sales-oriented enterprise, with what I can clearly state holds substantial rare earth refining technology. I congratulate Harry, Will and the entire Board."

Mr. Ewert further stated; "Over the next few months, we will hold our monthly expenses to a minimum, as we strengthen our balance sheet with cash, and our targeted acquisitions. Our strategic plan is to add significant revenues within our vertical markets through the end of this fiscal year."

Mr. Ewert and Mr., Westbrook will have more information on their strategies in an investor broadcast to be announced in early August. More information can be found at the Company website, www.qegy.energy.

Quantum Energy Inc. (QEGY) www.qegy.energy

About Quantum Energy Inc.

Quantum is an energy focused company with a project emphasis on rare earth refining, and property development in the United States and Canada. This includes the refining, processing and value-added manufacturing of rare earth elements, and other raw materials for the production of magnetic and associated energy related products.

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.

For Company Contact:

D M Danzik
Investor Relations
Washington, DC
202-750-3822
danzik@qegy.energy

SOURCE: Quantum Energy Inc.

View source version on accesswire.com:
https://www.accesswire.com/655210/Quantum-Energy-Inc-QEGY-Announces-Municipal-Bond-Approval-and-Update-on-Private-Placement-and-OTCQB-Listing

FAQ

What is Quantum Energy Inc.'s recent Municipal Bond approval?

Quantum Energy Inc. received approval for a $15 million Municipal Bond Issue in Wyoming.

How much cash was raised in Quantum Energy's Private Placement?

Quantum Energy successfully raised $15 million in cash for its Private Placement.

What is the average subscription price for Quantum Energy's Private Placement?

The average subscription price for the Private Placement was $0.75 per share.

When does Quantum Energy plan to close its Private Placement?

Quantum Energy estimates it will close its Private Placement by mid-September.

What is Quantum Energy's goal for listing on OTC.QB?

Quantum Energy aims to increase transparency and access to debt for growth by listing on the OTC.QB.