PQEFF - Petroteq Energy Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
0.0410
-0.0090 (-18.00%)
As of 9:33AM EDT. Market open.
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Chart Events
Neutralpattern detected
Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close0.0500
Open0.0410
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0410 - 0.0410
52 Week Range0.0180 - 0.3380
Volume504
Avg. Volume951,252
Market Cap9.044M
Beta (5Y Monthly)1.38
PE Ratio (TTM)N/A
EPS (TTM)-0.0490
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Petroteq Announces New Financing, Amendment to Securities and Shares for Debt

    SHERMAN OAKS, Calif., July 29, 2020 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces the receipt of an irrevocable subscription agreement from an arm’s length lender (the “Lender”) for a US$150,000 principal amount (including a 20% original ‎issue discount) convertible debenture, and warrants exercisable for up to ‎3,033,980‎ common shares ‎of the Company at US$0.0412 per share for 12 months. The debenture will have a term of 12 months and bear no annual interest. At the option of the holder the purchase price of the debenture (US$125,000) shall be convertible into ‎3,033,980 ‎common shares of the Company at US$0.0412 per share. The net proceeds of the above financing will be used by the Company on its ‎extraction technology in Asphalt Ridge, Utah, and for working capital.‎ Pursuant to an agreement between the Company and the Lender, the parties also intend to amend (i) a Convertible Debenture issued by the Company to the Lender on October 12, 2018, as amended on October 12, 2019, for principal amount of US$250,000 bearing interest at 10.0% per annum and payable on maturity (October 12, 2020) that is convertible at US$0.18 per share (the "250 Debenture"), (ii) a Convertible Debenture issued by the Company to the Lender on August 29, 2019 for principal amount of US$480,000 bearing interest at 3.3% per annum and payable on maturity (August 29, 2020) that had a purchase price of US$400,000 that is convertible at US$0.15 per share (the "480 Debenture"), (iii) a Warrant Certificate issued by the Company to the Lender on August 29, 2019 exercisable for up to 2,666,666 shares of the Company at US$0.15 per share until August 29, 2020 (the "480 Warrant"), and (iv) a Warrant Certificate issued by the Company to the Lender on September 20, 2019 exercisable for up to 1,111,111 shares of the Company at US$0.23 per share until September 20, 2021 (the "PP Warrant").The 250 Debenture and the 480 Debenture (collectively, the “Debentures”) will be amended to amend the conversion price to US$0.0412, the maturity date to July 31, 2021 and the interest rate to 12% per annum (commencing August 29, 2021 in the case of the 480 Debenture).The 480 Warrant and the PP Warrant will be amended to amend the exercise price to US$0.0412 and the expiry date to July 31, 2021. In addition, the PP Warrant will now include the expiry date acceleration provision contemplated in 3.3(a)(ii) of TSX Venture Exchange (the “Exchange”) Policy 4.1.The Company and the Lender have also entered into a shares for debt agreement, pursuant to which the Company will issue the Lender an ‎‎aggregate of 814,584 common shares in satisfaction of US$33,560.88 of accrued and unpaid interest to July 17, 2020 under the Debentures. The Company determined to satisfy the foregoing indebtedness with common shares in order to ‎‎preserve the Company’s cash for use on its extraction technology in Asphalt Ridge, Utah, and for working ‎capital.The foregoing transactions are all subject to approval of the Exchange. The securities issuable pursuant to the new financing and the shares for debt transaction will be issued in reliance on exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable state securities laws, and will be issued as “restricted securities” (as defined in Rule 144 under the U.S. Securities Act). In addition, such shares will be subject to a Canadian four-month hold period.‎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.Forward-Looking StatementsCertain statements contained in this press release contain forward-looking statements within the meaning of the U.S. and Canadian securities laws. Words such as “may,” “would,” “could,” “should,” “potential,” “will,” “seek,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” and similar expressions as ‎they relate to the Company, including: closing of the transactions noted herein; are intended to identify forward-looking information. ‎Readers are cautioned that there is no certainty that it will be commercially viable to produce any portion ‎of the resources. All statements other than statements of historical fact may be forward-looking ‎information. Such statements reflect the Company’s current views and intentions with respect to future ‎events, based on information available to the Company, and are subject to certain risks, uncertainties and ‎assumptions, including, without limitation: receipt of director and Exchange approval for the transactions and Exchange approval for the transactions. Material factors or assumptions were applied in providing forward-looking information. While forward-looking statements are based on data, assumptions and analyses that the Company believes are reasonable under the circumstances, whether actual results, performance or developments will meet the Company’s expectations and predictions depends on a number of risks and uncertainties that could cause the actual results, performance and financial condition of the Company to differ materially from its expectations. Certain of the “risk factors” that could cause ‎actual results to differ materially from the Company’s forward-looking statements in this press release ‎include, without limitation: failure by the Exchange or the directors of the Company to provide necessary approvals; uncertainties inherent in the estimation of resources, including whether any reserves will ever be attributed to the Company’s properties; since the Company’s extraction technology is proprietary, is not widely used in the industry, and has not been used in consistent commercial production, the Company’s bitumen resources are classified as a contingent resource because they are not currently considered to be commercially recoverable; full scale commercial production may engender public opposition; the Company cannot be certain that its bitumen resources will be economically producible and thus cannot be classified as proved or probable reserves in accordance with applicable securities laws; changes in laws or regulations; the ability to implement business strategies or to pursue business opportunities, whether for economic or other reasons; status of the world oil markets, oil prices and price volatility; oil pricing; state of capital markets and the ability of the Company to raise capital; litigation; the commercial and economic viability of the Company’s oil sands hydrocarbon extraction technology, and other proprietary technologies developed or licensed by the Company or its subsidiaries, which currently are of an experimental nature and have not been used at full capacity for an extended period of time; reliance on suppliers, contractors, consultants and key personnel; the ability of the Company to maintain its mineral lease holdings; potential failure of the Company’s business plans or model; the nature of oil and gas production and oil sands mining, extraction and production; uncertainties in exploration and drilling for oil, gas and other hydrocarbon-bearing substances; unanticipated costs and expenses, availability of financing and other capital; potential damage to or destruction of property, loss of life and environmental damage; risks associated with compliance with environmental protection laws and regulations; uninsurable or uninsured risks; potential conflicts of interest of officers and directors; risks related to COVID-19 including various recommendations, orders and measures of ‎‎governmental authorities to try to limit the pandemic, including travel restrictions, border closures, ‎‎non-essential business closures, quarantines, self-isolations, shelters-in-place and social ‎distancing, ‎disruptions to markets, economic activity, financing, supply chains and sales channels, ‎and a ‎deterioration of general economic conditions including a possible national or global ‎recession; and other general economic, market and business conditions and factors, including the risk factors discussed or referred to in the Company’s disclosure documents, filed with United States Securities and Exchange Commission and available at ‎www.sec.gov (including, without limitation, its most recent annual report on Form 10-K ‎under the Securities Exchange Act of 1934, as amended), and with the securities ‎regulatory authorities in certain provinces of Canada and available at www.sedar.com.‎Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward- looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CONTACT INFORMATIONPetroteq Energy Inc. Alex Blyumkin Executive Chairman Tel: (800) 979-1897

  • GlobeNewswire

    Petroteq Announces Significant Insider Investment and Shares for Debt Transactions

    SHERMAN OAKS, Calif., July 20, 2020 -- Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE:PQCF), an integrated oil company focused on the development.

  • GlobeNewswire

    Petroteq Corrects Shares for Debt Details

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), announces a correction to the shares for debt details from its June 12 and 24, 2020 news releases. The Company has executed shares for debt agreements, pursuant to which it will issue an ‎‎aggregate of 7,582,502 common shares in satisfaction of US$304,309 (including accrued interest) of indebtedness currently owed to six ‎arm’s ‎length creditors. All ‎shares issued pursuant to the above transactions are subject to approval of the TSX Venture Exchange (the “Exchange”).

  • GlobeNewswire

    Petroteq Announces Management and Operations at Asphalt Ridge Facility to be Taken Over by Valkor LLC’s Newly-Established Joint Venture With TomCo Energy PLC, Greenfield Energy LLC

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its ‎proprietary oil-‎extraction and remediation technologies, notes the announcement issued by TomCo Energy PLC (“TomCo”) earlier today that following the establishment by TomCo of a joint venture company, Greenfield Energy LLC (“Greenfield”) with Valkor LLC (“Valkor”) on the 17th June, Greenfield will take over the management and operations of Petroteq's oil sands plant at Asphalt Ridge, Utah (the “POSP”). As indicated in TomCo’s announcement, Greenfield is planning to make certain upgrades to the POSP and undertake tests to assess the POSP's potential commerciality.

  • GlobeNewswire

    Petroteq Announces Amendment to Securities and Shares for Debt

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces the amendment of three convertible debentures and three warrants issued to an arm’s length lender between July 2019 and October 2019. In addition, the parties intend to amend the exercise price of three warrants issued to the lender exercisable for up to 3,444,639 common shares of the Company from US$0.20, US$0.24 and US$0.26 to US$0.03. The parties also intend to enter into a shares for debt agreement, pursuant to which it will issue an ‎‎aggregate of 912,493 common shares in satisfaction of US$27,374.79 of accrued and unpaid interest under the foregoing debentures.

  • GlobeNewswire

    Petroteq Announces Proposed Share Issuances

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces the execution of shares for debt agreements, pursuant to which it will issue an ‎‎aggregate of 7,064,864 common shares in satisfaction of US$389,712 (including accrued interest) of indebtedness currently owed to six ‎arm’s ‎length creditors. The Company determined to satisfy the indebtedness with common shares in order to ‎‎preserve the Company’s cash for use on its extraction technology in Asphalt Ridge, Utah, and for working ‎capital. The Company also announces that it has received a subscription from an arm’s length subscriber for 1,998,739 common shares of the Company for ‎proceeds to the Company of US$79,949.59.

  • Should You Be Concerned About Petroteq Energy Inc.'s (CVE:PQE) Historical Volatility?
    Simply Wall St.

    Should You Be Concerned About Petroteq Energy Inc.'s (CVE:PQE) Historical Volatility?

    Anyone researching Petroteq Energy Inc. (CVE:PQE) might want to consider the historical volatility of the share price...

  • GlobeNewswire

    Petroteq to Postpone Filing of 2020 Q2 Financials and MD&A

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces that it will 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”), which includes the Company’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, by its filing deadline of April 14, 2020. The blanket orders provide for a 45 day extension for certain periodic filings, including the Quarterly Report.

  • GlobeNewswire

    PETROTEQ ANNOUNCES ISSUANCE OF SECURITIES

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces that it has issued to an arm’s length lender a US$417,000 principal amount (including a 20% original issue discount) secured convertible debenture, and warrants exercisable for up to ‎4,906,250‎ common shares of the Company at US$0.15 per share for 48 months. The purchase price (US$392,500) for the securities, less fees and expenses, was advanced by the subscriber to Petroteq between December 13, 2019, and February 14, 2020. At the option of the holder the principal amount of the debenture is convertible into ‎4,906,250 common shares of the Company at US$0.08 per share, and at the option of the Company is convertible at US$0.08 per share in the event the closing price of the common shares on the TSXV is above US$0.40 for twenty (20) consecutive trading days, with average daily volume greater than 1,000,000 common shares over such twenty (20) day period.

  • GlobeNewswire

    PETROTEQ DOWNSCALES PRODUCTION CITING MARKET CONDITIONS

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, announces it is ‎reducing production staffing to a single shift daily because of market conditions. The Company has chosen to cut hours at the plant to reduce costs in a tumultuous ‎market. Because of the effects of the recent decline in oil pricing, the Company is no longer ‎operating (in terms of the cost to produce and sell oil, excluding G&A) on a breakeven basis.

  • GlobeNewswire

    PETROTEQ ANNOUNCES PROGRESS ON NEW TECHNOLOGY LICENSES, AND CHANGES TO MANAGEMENT AND BOARD OF DIRECTORS

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, is pleased to announce progress on the licensing of its proprietary oil-sands extraction ‎technology. On July 2, 2019, the Company announced that it had entered into a non-exclusive technology licensing agreement with Valkor LLC (“Valkor”), a company based in Katy, Texas. The Agreement grants to Valkor the right to use Petroteq’s proprietary patented technology to engineer, construct, operate and finance oil sands extraction plants (individually, a “Plant”) to transform highly oil saturated feed ore recovered from mining operations to heavy crude.

  • GlobeNewswire

    Petroteq Reaches New Production Milestone of 300 bbls/day and is Now Operating on a Break Even Basis at Its Asphalt Ridge Plant

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, is pleased to announce that after a scheduled ‎temporary maintenance shutdown in January 2020, during which various process ‎improvements and adjustments were completed, it re-commenced production at its ‎Asphalt Ridge facility located in Vernal, Utah (the “Plant”) and since re-commencement ‎on February 19, 2020 has produced approximately 1,900 barrels of oil thus achieving an average ‎daily production rate of over 300 bbls/day on a continuous basis. ‎The technology at the Plant is flexible enough that it can produce a wide range of different characteristics of oils, which enables the Company to cater to the specific needs of its customers.

  • GlobeNewswire

    Petroteq Announces Closing of Financing

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), a fully integrated clean technology company with proprietary technology‎ for soil remediation and oil ‎extraction, announces that it has issued to an arm’s length lender a US$55,000 principal amount (including a 10% original issue discount) unsecured convertible debenture, and warrants exercisable for up to 357,142 common shares of the Company at US$0.14 per share for 12 months. At the option of the holder the principal amount of the debenture is convertible into 357,142 common shares of the Company at US$0.14 per share. The net proceeds of the above financing will be used by the Company on its extraction technology in Asphalt Ridge, Utah, and for working capital.

  • GlobeNewswire

    Petroteq Announces Closing of Financing, Production Increases at the Existing Facility to Reach Profitability and Expansion Plans for New 3,000 Barrel Facility

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; ‎OTC:PQEFF; FSE:PQCF), a fully integrated clean technology company with proprietary technology‎ for soil remediation and oil ‎extraction, announces that it has issued to an arm’s length lender a US$750,000 principal amount (including a 20% original issue discount) unsecured convertible debenture, and warrants exercisable for up to 3,676,470 common shares of the Company at US$0.17 per share for 48 months. At the option of the holder the principal amount of the debenture is convertible into 3,676,470 common shares of the Company at US$0.17 per share, and at ‎the option of the Company is convertible at US$0.17 per share in the ‎event the closing price of the common shares on ‎the TSXV is above US$0.40 for twenty (20) consecutive trading ‎days, with average ‎daily volume greater than 1,000,000 common shares over such twenty (20) day period.

  • GlobeNewswire

    Petroteq Announces Results of AGM and Expands Board of Directors

    Petroteq Energy Inc. (“Petroteq” or the “Company”) ‎‎(TSXV:PQE; OTC:PQEFF; FSE:PQCF), an oil sands mining and production company having a proprietary ‎technology that extracts hydrocarbons from oil sands without the use of water, is ‎pleased to announce that its shareholders (the “Shareholders”) have voted at the annual and ‎special meeting of Shareholders (the “Meeting”) in favor of all matters put to Shareholders at the ‎Meeting. All annual matters that were put before Shareholders at the Meeting were approved, including the election of Ms. Anya Goldin as a new director, a potential share consolidation and the adoption of an advance notice by-law ‎‎(the “Advance Notice By-law”) regarding director elections.

  • GlobeNewswire

    Petroteq Announces Update on Oil Production and Oil Quality Baseline

    Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE:PQCF), is a fully integrated oil company focused on the development and implementation of its new proprietary technology for oil extraction with producing assets at Asphalt Ridge near Vernal Utah, is pleased to announce that since last reported it has increased its daily average oil production and made changes to its facilities oil quality baseline. Petroteq is engaged in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies.

  • GlobeNewswire

    Petroteq Announces Completion of Automation, Strategic Account Payment Structure With Valkor Oil and Gas and Appoints New Advisory Board Member

    Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE:PQCF), an oil sands mining and production company having a proprietary technology that extracts hydrocarbons from oil sands without the use of water, is pleased to announce the completion of facility automation, a strategic account payment structure with Valkor Oil and Gas (“Valkor”) and the addition of Dr. Mark Rollins to its advisory board. The Company has completed the automation of the front end processes for sand separation, oil quality control and centrifugal agitation. The Company believes that with the engineering and technical assistance from Valkor and Alfa Laval, its production of crude oil and potential reduction in operating, maintenance and labor costs will now be achieved.

  • GlobeNewswire

    Petroteq Reports Planned Automation Completion Date

    Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), an oil sands mining and production company, is pleased to announce that the Company will complete the automation of certain processes at its Asphalt Ridge processing facility in Utah (the “Plant”) on or about November 20th, 2019. The Company’s automation of the front end processes at the Plant, consisting primarily of the sand separation process, oil quality process and centrifugal process, is being implemented with engineering and technical assistance from Valkor Engineering and Alfa Laval and is expected to provide both increased efficiencies in the production of crude oil and a reduction in operating, maintenance and labor costs. Automation of the Plant’s front end processes will substantially reduce manual intervention and allow for a potential increase in production at or near 300 barrels/shift, followed by an increase we intend to accomplish by adding more production time while moving the company forward, toward profitability.

  • GlobeNewswire

    Petroteq Announces Agreement to Amend Debentures

    Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated surface oil sands mining oil company with proprietary technology‎, announces that, subject to TSX Venture Exchange (“TSXV”) approval, it intends to amend two 12 month unsecured convertible debentures, originally issued in October 2018, for an aggregate ‎of US$500,000 principal amount bearing interest at a rate of 10% per annum and payable on maturity. Accordingly, the debentures would be convertible into an aggregate of up to 2,941,176 common ‎shares of the Company. ‎The amended and restated debentures will be subject to resale restrictions, including, without limitation, a Canadian four-month hold period. The Company has also issued to an arm’s length lender a US$200,000 principal amount unsecured convertible debenture, and warrants exercisable for up to 555,555 common shares of the Company at US$0.18 per share for 12 months.

  • GlobeNewswire

    Petroteq Achieves Higher Oil Quality

    FSE: PQCF), an oil sands mining and production company having a proprietary technology that extracts hydrocarbons from oil sands without the use of water, is pleased to announce that the Company has achieved sales of high quality heavy oil from its Asphalt Ridge facility in Utah. Three important characteristics in comparing the qualities of different crude oils are specific gravity (API gravity), the amount of base sediment and water (BS&W), and sulfur content.

  • GlobeNewswire

    Petroteq Demonstrates Stabilized Production

    FSE: PQCF), a fully integrated surface oil sands clean recovery mining oil company with proprietary technology, is pleased to announce that the Company has achieved stabilized production rates and sales of heavy oil from its Asphalt Ridge Facility in Utah.

  • GlobeNewswire

    Petroteq Announces Closing of Financings

    FSE: PQCF), a fully integrated surface oil sands mining oil company with proprietary technology‎, announces a final closing of its previously announced (September 17, 2019) equity financing at US$0.18. The Company raised gross proceeds of US$500,000 through the issuance of 2,777,777 units at US$0.18 per unit, with each unit consisting of one common share of the Company, and one share purchase warrant, with each warrant entitling the holder thereof to acquire an additional common share at US$0.23 per share for 24 months. The Company has also issued to an arm’s length lender a US$240,000 principal amount (including an original issue ‎discount of 20%) unsecured convertible debenture, and warrants exercisable for up to 1,176,470 common shares ‎of the Company at US$0.20 per share for 15 months.

  • GlobeNewswire

    Petroteq Announces Recommencement of Production at Asphalt Ridge Facility

    FSE: PQCF), a fully integrated surface oil sands clean recovery mining oil company with proprietary technology, is pleased to announce that the Company has recommenced production today from the Asphalt Ridge Facility in Utah. Completing the planned equipment modifications to the sand separation process, fluid extraction process, and the clean sand production process, marks a significant milestone for Petroteq’s proprietary oil extraction solvent technology.

  • GlobeNewswire

    Petroteq Announces Commissioning of Asphalt Ridge Facility

    FSE: PQCF), a fully integrated surface oil sands mining oil company with proprietary technology‎, announces that the Company’s field operations and engineering staff have initiated the commissioning processes and ‎sequences for the new equipment as final connections to the new heated augers, and mixer tank material ‎tie-ins to the pre-oil tank on the sand separation equipment have been completed. The Company also announces it has received irrevocable subscriptions for 6,091,336 common shares of the Company at US$0.13 per share for gross proceeds of US$791,874 (including $90,500 from Alex Blyumkin, the Executive Chairman and a director ‎of the Company).

  • GlobeNewswire

    Petroteq Reports Positive Progress for its Proposed Vernal, Utah Plant 3,000 Barrel Expansion

    FSE: PQCF), a fully integrated surface oil sands mining oil company with patented - proprietary clean oil recovery technology (CORT)‎, is pleased to announce that the 30-day comment period for the Company’s 3,000 barrel per day expansion permit has ended and the State of Utah, Department of Oil, Gas, and Mining Division (UDOGM) did not receive any comments on the Company’s Significant Revision Notice of Intent (NOI). The UDOGM has indicated that based on the tentative approval letter issued on July 23, 2019, and since UDOGM received no comments, UDOGM can now formally approve the Company’s proposed expansion NOI, contingent on the final modification to the reclamation contract and an increase to the surety bond currently in place with the UDOGM to meet the requirements of the modified reclamation contract.