Canadian Quantum Closes $500,000 Convertible Debenture Financing

Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Corporation")
(TSX VENTURE:CQM) announced today that the Corporation has closed a $500,000
private placement of a secured convertible debenture ("Debenture"), subject to
TSX Venture Exchange final approval. The Debenture will bear interest at the
rate of ten percent (10%) per annum, payable monthly and will mature on May 30,
2014. The Debenture will be convertible at the holder's option into common
shares of the Corporation at any time prior to the maturity date at a conversion
price of $0.20 per common share. The Corporation can force conversion of the
Debenture into common shares if the Corporation's common shares trade, on a 20
day volume weighted average basis, at or above $0.50. The security interest
granted by Canadian Quantum under the Debenture is an undivided 25% interest in
the Alexander Project, subject to the farmout to an arms' length third party on
the upcoming new 16A-11 56 27 W4 Test Well ("16A-11 Test Well") and two
associated option wells described below. In addition, the Corporation has
granted to the holders of the Debenture and of the debenture in the principal
amount of $1,000,000 issued on May 30, 2012, a right of first refusal to
participate in the next flow-through offering of the Corporation.


No finder's fees were paid on this transaction. All securities issued in
connection with the offering, including any common shares issued upon conversion
of the debenture, will be subject to a four month hold period expiring on March
9. 2013 The net proceeds of the Debenture will be used for exploration programs
and for general working capital.


Canadian Quantum is further pleased to announce that the Corporation has
completed a farmout to an arms' length third party on a small portion of the
Company's 50% owned, 27 section Alexander Property, located just north-east of
Edmonton. The third party will participate in the drilling of the 16A-11 Test
Well by paying 50% of the costs to earn a 30% interest. The third party also has
the option to drill two additional wells from the same surface lease earning a
25% interest by paying 25% of the related costs. The earned lands for the
farmout only relate to the specific spacing unit assigned to each well drilled.
Canadian Quantum will maintain a 20% interest in the 16A-11 Test Well and a 25%
interest in the two option wells and a 50% interest in the remaining lands. In
addition, the third party has paid a $200,000 equalization payment to the
Corporation. 


Douglas Brett, President and CEO stated, "We are pleased to have secured
additional financial support for the Corporation through the debenture financing
and are excited to get drilling again at Alexander. The operator, Sundance
Energy Corporation (TSXV trading symbol: "SNY") is in the process of licensing
the 16A-11 Test Well which is anticipated to commence drilling operations before
the end of the year. Based on the success of the 16A-11 Test Well drilling of
the option wells is scheduled to occur early in the New Year. Our upcoming
Alexander wells are specifically targeting the Detrital Sand that has been so
successful in the offsetting producing oil wells just to the east of our land
position."


About Canadian Quantum

Canadian Quantum Energy Corporation holds 640 gross acres at Turin, Alberta and
17,280 gross acres / 27 sections on the Alexander First Nations Permit in
Central Alberta along with various interests in approximately 174,000 gross
acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale
Play. 


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Quantum Energy Corporation
Douglas Brett
President & CEO
[phone]
[e-mail]


Canadian Quantum Energy Corporation
Mark Prosser
Investor Relations
[phone]
[e-mail]
www.canadianquantum.com