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Quantum Energy Inc (QEGY) Announces Municipal Bond Approval and Update on Private Placement and OTC.QB Listing
WASHINGTON DC and HENDERSON, NV / ACCESSWIRE / July 12, 2021 / Quantum Energy Inc. (OTC PINK...
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":"Quantum Energy Inc (QEGY) Announces Municipal Bond Approval and Update on Private Placement and OTC.QB ListingWASHINGTON 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 PlacementThe 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 o...