Studio City, CA -- March 29, 2018 -- InvestorsHub NewsWire
-- Petroteq Energy Inc. (“Petroteq” or
the “Company”) (TSXV: PQE) (OTC: PQEFF) (FSE: A2DYWC), a company
focused on the development and implementation of proprietary
technologies for the energy industry, announced today that it will
be presenting at the MicroCap Conference, being held on April 9-10
at the Essex House, New York City.
David Sealock, Chief Executive Officer, will
be presenting the corporate overview, focusing on the Company’s
proprietary technology for oil extraction and PetroBLOQ, the
blockchain based platform being developed by the Company
exclusively for the supply chain needs of the oil and gas sector.
Mr. Sealock will also be hosting a Q&A session with investors
and conducting one-on-one meetings. The Company’s
presentation will be on April 9th at 1:00pm.
The MicroCap Conference is an exclusive event for investors who
specialize in small and microcap stocks. It is an opportunity to be
introduced to and speak with management at some of the most
attractive small companies, learn from various expert panels, and
mingle with other microcap investors.
The MicroCap Conference will take place in New York City at
the Essex House on April 9th and 10th.
Registration will begin on Monday at 7:00am and will last until the
evening. These days will be jam-packed with company presentations,
1-on-1 meetings, roundtables, expert panel discussions, and plenty
of time to network with other investors over food and drinks.
The Company also announces that, further to its news release of
March 2, 2018, it has closed (i) a private placement of 107,525
common shares of the Company for gross proceeds of US$100,000, and
(ii) a private placement of 114,678 common share units of the
Company for gross proceeds of US$125,000, with each unit consisting
of one common share of the Company and one common share purchase
warrant, with each warrant entitling the holder thereof to acquire
one common share of the Company at an exercise price of US$1.50 per
share until March 9, 2020. The private placements are subject to
final approval from the TSXV. All of the securities issued are
subject to a four month hold period from the date of issuance. The
net proceeds from the financings will be used by the Company for
general corporate purposes and working capital. Including the
foregoing issuances of shares, there are 59,490,765 common shares
of the Company issued and outstanding.
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 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. Our proprietary process produces zero greenhouse gas,
zero 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. The Company also owns a
minority stake in an exploration and production play located in
southwest Texas held by Accord GR Energy Inc. In addition, the
Company, through its wholly owned subsidiary PetroBLOQ, LLC,
is seeking to develop the first blockchain based platform created
exclusively for the supply chain needs of the oil & gas sector.
For more information,
visit www.Petroteq.energy and PetroBLOQ.com.
Forward-Looking Statements
Certain 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 TSXV final
approval of the private placements, are intended to identify
forward-looking information. 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. Material factors or assumptions were applied in
providing forward-looking information, including the TSXV providing
final approval of the private placements. 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: the
TSXV not providing final approval of the private placements;
PetroBLOQ not having the expertise and/or funds necessary to
develop and implement a blockchain-based supply chain management
system; PetroBLOQ not being able to develop the blockchain
technology or other applications to completion; blockchain
technology not being adopted by the oil and gas industry; 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 ability by the Company to raise capital; litigation; the
commercial and economic viability of the Company’s oil sands
hydrocarbon extraction technology, the SWEPT technology, the S-BRPT
technology, and other proprietary technologies developed or
licensed by the Company or by Accord, which are of 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 and Accord to maintain
their respective 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; 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 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.
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 INFORMATION Petroteq Energy Inc. Alex Blyumkin Chairman Tel: (800) 979-1897