Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, has provided a corporate update. The company noted that, as previously announced, the Ontario Securities Commission had revoked the Canadian cease trade order; however, the company is still subject to a trading suspension issued by the TSX Venture Exchange. According to the announcement, Petroteq is working on a reinstatement application to submit to the exchange, with plans to update the market as soon as possible. The company noted that exact timing of this process is unknown. The corporate update also noted that Petroteq is current in its filings with its end-of-year annual report not due until Nov. 29, 2021. “We are diligently working on the reinstatement application process and I will do my utmost to ensure that all procedures are followed properly and in a timely manner,” said Petroteq CEO Dr. R.G. Bailey in the press release.
To view the full press release, visit https://ibn.fm/ZbbXH
About Petroteq Energy Inc.
Petroteq is a clean-technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits, outputting high-quality oil and clean sand. Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water and, therefore, without generating wastewater that would otherwise require the use of other treatment or disposal facilities, which could be harmful to the environment. Petroteq’s process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand that can be sold or returned to the environment, without the use of tailings ponds or further remediation. For more information about the company, 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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