Quantum Energy, Inc. announced that it has begun to diversify its refinery development plan through the acquisition of opportunistic projects which generate revenue for the company. The first such projects are oil and gas prospects and properties. QEGY has simultaneously acquired a company with approximately 3,000 acres and 89 well bores in the Texas Panhandle along with an approximate 5% working interest in a heavy oil project in Missouri. Quantum continues its Bakken refinery development projects with ongoing permitting efforts in North Dakota and an increased emphasis on a 40,000 bpd proposed project in the Stoughton area of Saskatchewan, Canada. Quantum is in the process of forming a Canadian subsidiary, Energy Processing Group, Inc., to develop the Stoughton processing center and will be announcing its board and officers soon.

Chairman Wilson has assumed the role of CEO replacing Andrew Kacic upon his resignation as an officer and director effective July 1, 2016.