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Canadian Quantum Announces Proposed Private Placement

CALGARY, ALBERTA -- (Marketwired) -- 12/17/13 -- Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX VENTURE: CQM) announced today that it intends to complete a non-brokered private placement offering of common shares at a price of $0.05 per share, for gross proceeds of up to $120,000.

The closing of the offering is expected to occur on or about December 20, 2013 and is subject to regulatory approval, including approval of the TSX Venture Exchange. For further details on the offering, please contact the Company. The common shares issued in connection with the offering will be subject to a hold period of four months from the date of closing. The net proceeds from the offering will be used for general working capital purposes.

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 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 Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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