CHICAGO, Nov. 28, 2017 (GLOBE NEWSWIRE) -- Effective November 8, 2017, Jeffrey Mallmes was appointed Chairmen of the Board, President and Treasurer of Quantum (OTC Pink:QEGY). Also on that date, Andrew J. Kacic was appointed director and secretary of Quantum and Keith Stemler, who heads Quantum’s Dominion subsidiary, was appointed a director of the Company and Chief Operating Officer and Stanley F. Wilson resigned as an officer of the Company.
Mr. Stemler brings over 35 years of construction and senior project management experience in Western Canada's natural resources sector. His project management activities have included supporting multi-billion dollar capital projects on behalf of major industry Bitumen producers such as ExxonMobil, Husky Energy and Suncor. Through this experience, Mr. Stemler has gained valuable insight into cost saving ventures, design modeling, project execution, scheduling and cost budgeting. Mr. Stemler has received many safety awards and recognition for his efforts that contributed to large financial gains by eliminating duplicate engineering and reducing independent risk assessments. "Mr. Stemler's expert knowledge and experience in mining projects, Bitumen processing facilities and hydro treatment and recovery systems will be a significant asset to the goals and objectives of Dominion Energy Processing Group, Inc.," said Quantum’s Chairman and President Jeff Mallmes.
"I will continue to provide leadership and guidance for the first of many planned refinery developments in Canada. Having served over many years in an advisory capacity to Quantum, I welcome this opportunity to provide project management for the development of a proposed 40,000 bpd project the Company intends to develop in Stoughton, Saskatchewan. We will continue to work through the last remaining gates moving the project forward. The Stoughton project has received excellent support from the Local and Provincial Governments providing assistance and direction as we work towards execution. Dominion Energy will begin to focus on our staffing requirements to expand our project team as well as seek additional oil and gas revenue projects in Alberta and Saskatchewan," Mr. Stemler said.
Quantum is also continuing to work on the proposed Bakken refinery development projects with ongoing permitting efforts in North Dakota.
Messrs. Mallmes Stemler and Kacic are focusing on Canadian operations and up-lifting Quantum off the pink sheets onto the OTCQB.
Quantum is an energy focused company with emphasis in energy projects including land holdings, refinery development, oil and gas exploration, drilling, well completion, and fuel distribution in the U.S. and Canada, through its subsidiary Dominion Energy, as well as commodities trading through its wholly owned subsidiary FTPM Resources, Inc.
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To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
For Company Contact:
Andrew J. Kacic
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