Quantum Energy Receives Refinery Funding Conditional Commitment Letter
22 Aprile 2014 - 1:30PM
Marketwired
Quantum Energy Receives Refinery Funding Conditional Commitment
Letter
TEMPE, AZ--(Marketwired - Apr 22, 2014) - Quantum Energy, Inc.
(PINKSHEETS: QEGY), announced today that it has received a
Conditional Commitment Letter from NBM Strategic Capital and its
Grey Fox private equity arm for the $250 million dollar projected
cost to construct the Fairview Refinery in East Fairview, North
Dakota. "Grey Fox informed us that we have completed 23 of their 25
steps to funding and has provided Quantum with its Conditional
Commitment Letter for the entire $250 million dollar construction
cost. We have several other funding sources that are equally as
encouraging and in various stages of commitment documents. The
NBM/Grey Fox letter is a priority at the moment," said CEO Andrew
Kacic.
Quantum announced recently its plan to construct the Fairview
Refinery that will process 20,000 barrels of Bakken crude oil per
day and will operate as a diesel topping plant. Upon closing,
permitting and completed construction, the refinery is projected to
generate annual revenues in excess of $600,000,000 with EBITDA in
excess of $60,000,000 and employ 100 plus full time employees.
Of special note, the refinery will be unique to any current or
proposed design in North Dakota as it will include technology and
equipment to capture CO2 emissions for use in an Enhanced Oil
Recovery (EOR) program in the Bakken.
Quantum also announced that given the NBM/Grey Fox Letter it has
returned 7,283,600 shares of common stock to treasury as a result
of the mutual rescission of the DCC Engagement Agreement for BDC
funding.
The new Quantum website can be found at www.quantum-e.com.
About Quantum Energy, Inc.
QUANTUM ENERGY, INC. is a development stage publicly traded
diversified holding company with offices in the Bakken field in
Williston, North Dakota. Quantum places an emphasis in land
holdings, refinery and rail transload development, oil and gas
exploration, drilling, well completion and fuel distribution.
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: Invest Com USA 1-855-424-7447
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