WASHINGTON and HENDERSON, Nev., March 16, 2022 (GLOBE NEWSWIRE) -- March 16, 2022 - Quantum Energy Inc. (OTC: QEGY) ("Quantum") announces the appointment of Craig Kitchen to its Board of Directors effective immediately.
Through the unanimous consent of its Board of Directors, the Company appointed Craig Kitchen to serve as an independent director of the Company. Mr. Kitchen is a retired United States Air Force officer and graduate of the United States Air Force Academy, holding a degree in mechanical engineering.
Mr. Kitchen holds various experiences within the operations and administration of publicly held and private companies, including the CEO of Eagle Picher Technologies and an officer of the former McDonnell Douglas Helicopter Co., now known as MD Helicopter.
Harry Ewert, Chief Executive Officer, stated, "The Company continues to attract and secure world-class talent in our consistent and steady infrastructure buildout in the rare earth mineral and magnet industry. Craig Kitchen's wealth of experience will serve our Company well during this next growth phase."
Mr. Kitchen will also serve on the Company's audit committee with independent Director Douglas C. Bean.
Mr. Kitchen stated, "It has been invigorating and exciting to watch this Company take shape over the last two years. Its restructuring and its ability to raise significant cash resources, in my opinion, will allow Quantum to execute its plans in the rare earth industry successfully. I am very proud to be a part of Quantum's future."
The Company also announced that it has begun hiring 22 new employees in Wyoming at its Willwood Mining and Processing facility and the new Byron Magnetics facility. Two employees from the Company's Scottsdale, Arizona office will relocate to Wyoming.
Also, the Company will temporarily relocate its security division to the Willwood facility and then move to the Byron Facility once the Company completes construction, expected in late September of this year.
Will Westbrook, Quantum CFO, stated, "the Company is now positioned well with executive management, cash, and real estate to accomplish our highly focused goal of operating within the rare earth industry in the United States and Canada. Mining, minerals, and magnets are all vertically integrated from recycled sources to produce various magnetic assemblies. Our sources of rare earth are truly unique. and our Company's licensed and self-developed processing technologies are safe, effective, profitable, and designed to run on a micro or mini scale anywhere the reclamation or recycling of rare earth containing materials or magnets can be recycled or reprocessed."
About 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 to produce magnetic and associated energy-related products -www.qegy.energy.
Safe Harbor Forward-Looking Statements
This Press Release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operation, business strategy, financial results, and financial needs. We caution you not to place undue reliance on forward-looking statements. You should read these statements in conjunction with the risk factors disclosed in "Risk Factors" appearing elsewhere in this Annual Report. Those risks are not exhaustive. We operate in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. We do not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.
Quantum Energy Inc. Company Contact:
Investor Relations
Washington, DC
202-750-3822
investorrelations@qegy.energy
www.qegy.energy
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62d40e72-7d75-4031-ad57-eb6b52574228
