Petroteq
Energy (TSX.V: PQE) (OTC: PQEFF), a fully integrated, surface oil sands
clean recovery mining oil company with proprietary technology, recently secured
additional funding and made considerable headway toward its Asphalt Ridge
heavy-oil extraction facility expansion plans. An article discussing the
company reads, “Earlier this month, Petroteq announced the issuance to an arm’s
length lender of a $480,000 principal amount (including a 20% original issue
discount) unsecured convertible debenture and warrants exercisable for up to
2,666,666 of the company’s common shares, each at $0.15, for 12 months,
according to a news release (http://ibn.fm/elOX1).
The company said it will use the net proceeds of the financing on its
extraction technology in Asphalt Ridge, as well as for working capital.”
To view the full article, visit http://ibn.fm/qqDiO
About Petroteq Energy Inc.
Petroteq is a fully integrated oil-and-gas company focused
on the development and implementation of a new proprietary technology for oil
extraction. The company has an environmentally safe and sustainable technology
for the extraction of heavy oils and bitumen from oil sands, oil-shale deposits
and shallow oil deposits. Petroteq is engaged in the development and
implementation of its patented environmentally friendly heavy-oil processing
and extraction technologies. Its proprietary process produces nearly zero
greenhouse gas and waste and requires no high temperatures. Petroteq is
currently focused on developing its oil-sands resources and expanding
production capacity at its Asphalt Ridge heavy-oil extraction facility located
near Vernal, Utah. For more information, visit the company’s website at www.Petroteq.energy.
NOTE TO INVESTORS: The latest news and updates
relating to PQEFF are available in the company’s newsroom at http://ibn.fm/PQEFF
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