Quantum Energy, Inc. has entered into a fully executed Letter of Intent for the acquisition of 400 acres near the city of Baker in Fallon County, Montana for the development of a 21st Century Energy Center to include a 20,000 barrel per day diesel refinery.

The LOI calls for a Contribution Agreement to be executed no later than July 3, 2014 by which title to the 400 acres is to be exchanged for shares of Quantum common stock. Quantum also has an existing purchase agreement for a refinery site with Northstar Transloading LLC in East Fairview, ND.

Tags: Quantum Energy