Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an
integrated oil company focused on the development and implementation of its
proprietary oil-extraction and remediation technologies, on Tuesday announced
that it would not be in a position to file its Quarterly Report on Form 10-Q
for the three and six months ended February 29, 2020 (the “Quarterly Report”)
by the filing deadline of April 14, 2020. This includes Petroteq’s interim
financial statements for the three and six months ended February 29, 2020 and
the related management’s discussion and analysis, as required by U.S. and
Canadian securities laws. The news release was issued in accordance with the
blanket orders issued by applicable securities commissions comprising the
Canadian Securities Administrators (the “CSA”) on March 23, 2020. The blanket
orders provide for a 45-day extension for certain periodic filings, including
the Quarterly Report. In addition, the Company is relying on similar relief
granted by order of the Securities and Exchange Commission (the “SEC”) on March
25, 2020 (which extended and superseded a prior order issued on March 4, 2020)
pursuant to Section 36 of the United States Securities Exchange Act of 1934, as
amended (Release No. 34-88318) (the “Order”). The Order requires the Company to
file the Quarterly Report with the SEC no later than May 29, 2020, which is 45
days after the original due date of the Quarterly Report.
To view the full press release, visit http://ibn.fm/If3U0
About Petroteq Energy Inc.
Petroteq is a fully integrated clean technology 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 and reclamation of heavy 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. Petroteq is currently focused on
developing its oil sands resources and expanding production capacity at its
Asphalt Ridge soil remediation and heavy oil extraction processing facility
located near Vernal, Utah. For more information, visit 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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