Quantum Solar Power Hires Quorum Capital Corp as Consultants
09 Août 2011 - 6:43PM
Marketwired
Quantum Solar Power Corp. ("Quantum") (OTCBB: QSPW) has entered
into a Consulting Agreement (the "Agreement") with the firm Quorum
Capital Corporation. ("QCC") of Vancouver, British Columbia. QCC
will provide Quantum with advisory services to assist Quantum in
establishing an office in Dusseldorf, Germany.
Under the terms of the Agreement, QCC will provide services
introducing Quantum to key industry contacts in Germany. In
addition, QCC will assist Quantum in establishing a physical office
in Dusseldorf, Germany, hiring staff for that office and ensuring
all German employment and business requirements are met in
accordance with German and European Union laws. As compensation for
QCC's services, Quantum has agreed to pay an initial fee of $5,000
CDN plus HST on execution. Further compensation will be paid in
monthly increments of $2,000 CDN plus HST, beginning on September
8, 2011 until termination or non-renewal of the agreement. Quantum
has also agreed to grant options to purchase 2,000,000 shares of
common stock in Quantum at an exercise price of $1.00 per share
until July 7, 2014. The options will vest immediately upon issuance
according to the following schedule: 333,335 upon execution,
333,333 on August 8, 2011, 333,333 on September 8, 2011, 333,333 on
October 8, 2011, 333,333 on November 8, 2011 and 333,333 on
December 8, 2011. Quantum retains the right to accelerate the
issuance of options if warranted.
The Agreement is for an initial period of six months, renewing
for an additional 6 months automatically at the end of each term.
Daryl Ehrmantraut, President and CEO of Quantum, said, "We look
forward to working with Quorum in establishing our presence in
Dusseldorf, Germany. This is one more step in the execution of
Quantum's business strategy. Creating a foothold in the world's
leading solar power nation makes perfect sense for a company
pursuing a groundbreaking solar technology."
About Quantum Solar Power Corp. Quantum
Solar Power Corp. is developing a "Next Generation Device" (NGD™)
photovoltaic technology. Quantum's NGD™ is a patent pending,
laboratory model that utilizes a new approach to solar power
conversion with the potential to remove the necessity of utilizing
expensive silicon semiconductor-based technologies. We believe
Quantum's NGD™ technology has the potential to match the efficiency
of crystalline silicon PV at the cost of thin film PV. The
anticipated NGD™ technology is free of any rare element
dependencies found in other current solar technologies. We believe
Quantum has the potential to create solar cells (through
manufacturing partnerships) at significantly less cost per watt
than current technologies. Quantum Solar Power has offices in the
U.S. and Canada and can be found on the web at:
www.quantumsp.com
Forward-Looking Statements This news
release contains forward-looking statements regarding future events
and Quantum's future results that are subject to the safe harbors
created under the Securities Act of 1933 (the "Securities Act") and
the Securities Exchange Act of 1934 (the "Exchange Act") and
constitute "forward looking information" within the meaning of U.S.
securities laws. These statements include statements about
Quantum's planned technological development plan and are based on
material factors and assumptions including Quantum's management's
current expectations, estimates, forecasts, and projections about
the industry in which Quantum operates and the beliefs and
assumptions of Quantum's management. Words such as "expects,"
"anticipates," "targets," "goals," "projects," "intends," "plans,"
"believes," "seeks," "estimates," "continues," "may," variations of
such words, and similar expressions, are intended to identify such
forward-looking statements. In addition, any statements that refer
to projections of Quantum's future financial performance, Quantum's
anticipated growth and potentials in its business and other
characterizations of future events or circumstances are
forward-looking statements. Readers are cautioned that these
forward-looking statements are only predictions and are subject to
risks, uncertainties, and assumptions that are difficult to
predict, including the risk that Quantum's technological
development plan may not be successful, and those risks identified
in Quantum's Quarterly Report on Form 10-Q for the fiscal quarter
ended March 30, 2011. Therefore, actual results may differ
materially and adversely from those expressed in any
forward-looking statements. Quantum undertakes no obligation to
revise or update any forward-looking statements for any reason.
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Media Contact: Nancy Tamosaitis Vorticom, Inc.
212.532.2208 Email Contact
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