Business
Quantum Energy Inc (QEGY) Announces Share Buyback of 10,832,550 Shares
Buyback Program Extension and Results WASHINGTON, DC and HENDERSON, NV / ACCESSWIRE / Au...
About this update from Quebec Rare Earth Elements Corp
[{"type":"text","content":"Quantum Energy Inc (QEGY) Announces Share Buyback of 10,832,550 SharesBuyback Program Extension and ResultsWASHINGTON, DC and HENDERSON, NV / ACCESSWIRE / August 26, 2021 / Quantum Energy Inc. (OTC PINK:QEGY) (\"Quantum\") is pleased to announce the approval of an extension of its $2.0 million Stock Buyback ProgramThe Company announces that its Board of Directors has approved an extension of the Company's $2.0 million stock repurchase or Stock Buyback (\"Buyback\") program that began July 22, 2021. As well, the Board increased the budgeted amount of the buyback not to exceed $3.0 million.Harry Ewert, Chief Executive Officer, stated \"Quantum again has performed. The Company has seen significant success in the Buyback Program. The Buyback Program is increasing shareholder value, and will set the stage for balance sheet growth through this calendar quarter and the final calendar quarter of this year.\"The Company has reduced its shares in circulation from 48,491,485 to 37,658,935. The share repurchase program is incremental in nature, during the term, and offers, or market purchases shall be approved by the Company CFO.William Westbrook, CFO has also confirmed that the Company has continued the share repurchase, and that the repurchase will be paid primarily from cash on hand or from settlements. \"The company's liquidity is still steadily growing, and the balance sheet of the Company continues to build strength through the success of its private placement, order book, and raw material testing and conversion.\", stated Westbrook.Mr. Ewert and Mr. Westbrook will have more information on their strategies in an investor broadcast to be announced on August 31, 2021 at 10AM Pacific Daylight Savings Time and can be found at the Company website, www.qegy.energy.Quantum Energy Inc. (QEGY) www.qegy.energyAbout 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 StatementsTo the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outl...