Business
Quantum Energy Moves to Revenue Producing Position with FlooidCX Corporation Merger
Quantum Energy Moves to Revenue Producing Position with FlooidCX Corporation Merger.
About this update from Quantum Energy, Inc.
[{"type":"text","content":"\nQuantum Energy Inc. (OTC: QREE), (“Quantum”), a developer of transformative photonic energy systems for the direct generation and distribution of electrical energy owned by and for use of the consumer, today announced it has executed a letter of intent with FlooidCX Corporation (OTC: FLCX), (“FLCX”) to merge the two companies.\n\nWilliam Hinz, chairman of Quantum, stated: “The combined company’s goal is to change the face of energy delivery. A merger was the logical next step as we move toward commercializing our products. This merger helps accelerate our time to market by bringing together the necessary technologies, people and resources to begin transforming the market for industrial, commercial and residential electrical energy generation and distribution.\n\n“As we begin to monetize this technology in the quarters to come, we are also focused on creating significant value for our shareholders. As such, another key aspect of this merger is simplifying our capital structure, allowing us to continue moving towards our goal of listing on a major national stock exchange and providing a path to liquidity for our existing holders.”\n\nMerger Terms\n\nUpon closing the transaction, existing Quantum shareholders will:\n\n\nExchange 6 shares of existing Quantum common stock for 1 share of FLCX common stock;\n\n\nReceive Series D Preferred shares (“Series D”) convertible at a 10:1 ratio into common stock of the new company\n\n\nThe number of Series D stock shares issued will depend on each shareholder’s original cash investment in Quantum and the trading price of the effective date of the merged company. On that day the Series D will be issued.\n\n\n\n\nPost-merger, the combined company will adopt the name Quantum Energy, Inc. and trade on the OTC Markets under the existing ticker, QREE, and have approximately 35 million shares outstanding.\n\nStrategy and Operations\n\nFLCX will contribute the following as part of the merger:\n\n\nAn initial $18 million in contractual sales;\n\n\nOperations located in Hawaii, Michigan and Alberta Canada, which will benefit the shareholders of the merged company.\n\n\nQuantum will enable the Company to gain immediate entry into the aerospace industry due to strong demand for its products that use exotic metal alloys, including some requ...