CHICAGO, IL, July 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Quantum Energy Inc. (OTC: QEGY) (“Quantum”) is pleased to announce that on June 28, 2019, it entered into a Binding Letter of Intent with Easy Energy Systems Inc. (“EESI”) to create and fund multiple joint venture LLC’s each of which will be focused on a different vertical market feedstock to the point of full utilization and commercialization of the Easy Energy Systems, Inc. Modular Energy Production System. Ownership of each of these LLC's will be split as follows: 25% to Quantum; 25% to EESI and the remaining 50% to the funding source for the particular LLC.
To learn more on both companies please visit their websites:
Quantum Energy Inc. (QEGY) www.quantum-e.com
Easy Energy Systems Inc www.easyenergysystems.com
On July 3, 2019, the December 5, 2016 Farm contract for the purchase and sale between the Registrant and the Landowner of the property in Stoughton Saskatchewan, Canada, which has been extended from time to time, has been further by the parties extended until October 31, 2019, for removal of all terms and conditions to the purchase of the Land.
Additionally, the May 24, 2019 Agreement among Quantum and Quay View Partners, LLC and Looper Family Office LLC to acquire oil and gas properties located in Wyoming has been cancelled by the parties.
About Quantum Energy Inc.
Quantum is an energy focused company with a project emphasis toward refinery development, construction and operations in the United States and Canada, through its subsidiary Dominion Energy Processing Group, Inc. Quantum is continuing to work on proposed Bakken refinery development projects in Stoughton Saskatchewan, Canada..
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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: Andrew J. Kacic 480-734-0337