Quantum Cobalt Continues to Seek Service of David Schmidt Whom is Avoiding Service FOR Claims Rose Against Him
NEWS RELEASE
January 15, 2020
QUANTUM COBALT CONTINUES TO SEEK SERVICE OF DAVID SCHMIDT WHOM IS AVOIDING
SERVICE FOR CLAIMS ROSE AGAINST HIM
Vancouver, British Columbia – Quantum Cobalt Corp. (CSE: QBOT; OTC: BRVVF; FRA: 23B)
(“Quantum” or the “Company”) has commenced legal action against David Schmidt, claiming
gross negligence that resulted in significant shareholder value loss. Quantum Cobalt has retained
Blakes Cassels & Graydon LLP and have been in the process of ser ving Mr . Schmidt. Mr .
Schmidt has repeatedly avoided service and has not picked up phone calls relating to his service.
Process servers have stopped by his principal residence which he shares with his father Lowell
Schmidt a former Investment advisor at Echelon Wealth Partners.
Mr. Schmidt CEO at the time failed to make key property payments, which caused significant
loss and damage, in particular:
• Payment to Idaho's Bureau of Land Management by Sept. 1, 2018: The failure to make
this payment resulted in the irrevocable forfeiture of Quan tum's Musgrove mining claims.
Further, Mr. Schmidt failed to direct the company to take any steps to restake the claims, which
resulted in a third party acquiring the claims.
• Option payment by Dec. 31, 2018: The failure to respond to notices of payment for Grew
Creek and the further failure to direct the company to cure the default resulted in Quantum losing
its option on the Grew Creek property.
Quantum calculates the combined value of loss that Mr. Schmidt has cost the company due to his
gross negligence at approximately $3.4-million.
"I would like to see Mr . Schmidt take responsibility for his actions so that both parties can move
forward as we look to bring value to respective shareholders," stated Quinn Field-Dyte.
QUANTUM COBALT CORP.
“David Greenway”
_______________________
David Greenway, CEO and Director
Contact Information:
400 – 837 West Hastings Street
Vancouver, British Columbia
V6C 3N6
Tel.: 604.283.1722 / Fax: 1.888.241.5996
Forward-Looking Informatio n This news r elease includes certain stat ements that may be deemed "forw ard-looking
statements". All statements in this release, other than statements of histo rical facts, that address events or developments that
– 2 –
Quantum Cobalt Corp. (the "Company") expect s to occur, a re forward-looking statement s. Forward-looking statements a re
statements t hat a re not historical facts and are generally, but not always, identifi ed by the wor ds "expect s", "plans",
"anticipates", "believes", "intends", "estimates", "projects" , "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the Company believes the expect ations expressed in suc h forward-
looking statements are ba sed on reasonable assumptions, such sta tements are n ot guarantees of future perf ormance and
actual results may differ materially from those in the forward -looking statements. Factors that could caus e the actual results to
differ materially from thos e in fo rward-looking statements include market prices, exploitation and exploration suc cesses, and
continued availabil ity of capital and f inancing, and general economic, market or business conditions. Inve stors are cau tioned
that any such statements are no t guarantees of future performance and actual results or de velopments may differ materi ally
from those projected in the forward -looking statements. Forward-looking statements are based on the beliefs, esti mates and
opinions of the Company's management on the date the statements are made. Except as req uired by applicable securities laws,
the Company undertakes no obligation to updat e the se fo rward-looking statements in t he event that management's beliefs,
estimates or opinions, or other factors, should change.