Canadian Quantum Announces Completion of Private Placements and Asset Acquisition, and Appointment of New Director

Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX
VENTURE:CQM) announced today that, further to its press releases dated April 25,
2014 and May 6, 2014, pursuant to the investment agreement (the "Investment
Agreement") with Lang International Holdings Limited, a company registered in
the British Virgin Islands (""Lang"), and Douglas Brett, the President and Chief
Executive Officer of the Company, the Company completed the first tranche of its
previously announced private placement offering (the "Equity Private Placement")
of common shares of the Company ("Common Shares"), subject to TSX Venture
Exchange final approval. Pursuant to the closing of the first tranche of the
Equity Private Placement, Lang purchased 11,660,000 Common Shares at a price of
$0.10 per Common Share for gross proceeds of $1,166,000. An additional tranche
of the Equity Private Placement, pursuant to which a third party is anticipated
to purchase 1,090,000 Common Shares, is expected to occur on or about May 27,
2014. 


The proceeds from the Equity Private Placement will be used for the exploration
program on the Company's Alexander project and for general working capital. In
addition, upon the closing of the first tranche of the Equity Private Placement,
the Company repaid the previously announced short term loan from Lang in the
amount of $350,000. 


Concurrently with the closing of the Equity Private Placement, a subsidiary of
Canadian Quantum purchased certain seismic equipment from an associate of Lang
at a purchase price of 10,971,000 Common Shares, that were issued to Lang, at a
deemed price of $0.10 per Common Share (the "Asset Acquisition"), subject to TSX
Venture Exchange final approval. 


Concurrently with the closing of the Equity Private Placement, Canadian Quantum
also completed the previously announced private placement offering (the
"Debenture Private Placement") of series 1 convertible secured debentures in the
aggregate principal amount of $1,870,479.46 (the "Series 1 Debentures"), subject
to TSX Venture Exchange final approval. Pursuant to the Debenture Private
Placement, Lang purchased Series 1 Debentures in the principal amount of
$935,239.73 and the holders of the previously outstanding debentures purchased
Series 1 Debentures in the principal amount of $935,239.73, by settling the
corresponding amount of such outstanding debentures.  


The proceeds from the Debenture Private Placement will be used for general
working capital and to repay the remaining portion of the principal amount and
accrued interest owing on the outstanding debentures in the aggregate amount of
$935,239.73 and therefore, upon the closing of the Debenture Private Placement,
the outstanding debentures were fully paid and terminated.  


The Series 1 Debentures are secured against the personal property of the Company
and substantially all of the Company's interest in the Alexander Project,
convertible at a price of $0.12 per Common Share, mature on September 30, 2015
and will bear interest at a rate of 10% per annum. The holder of a Series 1
Convertible Debenture will rank on a pari passu and equal basis with any other
holder of a Series 1 Convertible Debenture, any holder of a series 2 convertible
debenture that may be issued in the future and Mr. Brett with respect to the
previously announced outstanding loan in the amount of $235,000. 


All of the securities issued in connection with the Equity Private Placement,
the Asset Acquisition and the Debenture Private Placement are subject to a hold
period that expires on September 23, 2014. 


Lang acquired 11,660,000 Common Shares under the Equity Private Placement,
10,971,000 under the Asset Acquisition and Series 1 Debentures in the principal
amount of $935,239.73 under the Debenture Private Placement and upon completion
of the private placements and the acquisition, Lang will own or control
22,631,000 Common Shares or approximately 39.49% of the total issued and
outstanding Common Shares and Series 1 Debentures in the principal amount of
$935,239.73. Assuming the conversion of such Series 1 Debentures, Lang would own
or control 30,424,664 Common Shares or approximately 46.74% of the total issued
and outstanding Common Shares. The purchase of the securities by Lang was made
for investment purposes. Lang may increase or decrease its investment in
Canadian Quantum depending on market conditions or any other relevant factors. 


Following the closing of the above noted transactions, and pursuant to the terms
of the Investment Agreement, Mr. Stephen Buscher, as the nominee of Lang, was
appointed to the Board of Directors of the Company.  


Mr. Buscher originally worked in banking, with an emphasis on Russian oil and
gas, where he worked for over twenty years as the co-head of the Moscow office
for Lazard Freres and Merrill Lynch. He also founded and co-managed Eurasia
Capital Partners, a private M&A advisory boutique with offices in Moscow and
London. Since leaving banking, Stephen has acted as the CFO of the Russian
independent oil company Urals Energy, which he successfully listed on the London
AIM in 2005, the CFO of Terralliance, a global exploration company privately
owned by Kleiner Perkins and Goldman Sachs, and CEO of Navitas Petroleum, the
exploration subsidiary of RussNeft, a Russian oil major owned by M. Gutseriev,
Sistema and Glencore. He is currently the CFO of Story First Ltd., a diversified
media investment holding venture, and a member of the Board of Directors of
Urals Energy. 


About Canadian Quantum 

Canadian Quantum is actively pursuing oil and gas opportunities in Western
Canada and continues to hold various interests in approximately 174,000 gross
acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale
Play.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 


This press release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements"), including statements
regarding Canadian Quantum's business, and the proposed transactions. Such
forward-looking statements are subject to numerous risks and uncertainties, some
of which are beyond Canadian Quantum's control, including the ability of
Canadian Quantum to satisfy the conditions to completion of the proposed
transactions, the impact of general economic conditions, industry conditions,
volatility of commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, operational risks in exploration and
development, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
the ability to access sufficient capital from internal and external sources.
Although Canadian Quantum believes that the expectations in its forward-looking
statements are reasonable, they are based on factors and assumptions concerning
future events which may prove to be inaccurate. Those factors and assumptions
are based upon currently available information. Such statements are subject to
known and unknown risks, uncertainties and other factors that could influence
actual results or events and cause actual results or events to differ materially
from those stated, anticipated or implied in the forward looking information. As
such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of
activity or achievements. The forward-looking statements contained in this
document are made as of the date of this document and, except as required by
applicable law, Canadian Quantum does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by this cautionary
statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Douglas Brett, President & CEO
[phone]
[e-mail]
www.canadianquantum.com