Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF) is an oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies. The company today acknowledged the press release dated Feb. 24, 2022, issued by Viston United Swiss AG in connection with the tender offer by 869889 Ontario Inc. (the “offeror”), an indirect wholly owned subsidiary of Viston, to purchase all issued and outstanding common shares of Petroteq. The company also confirmed its willingness to assist Viston with its CFIUS filings. In addition, Petroteq acknowledged receipt of a copy of the offeror’s second notice of extension, whereby the offer was extended and now remains open for acceptance until 5:00 p.m. (Toronto time) on April 14, 2022, unless the offeror, in accordance with its terms, further extends, accelerates or withdraws the offer. According to the update, shareholders of common shares held through a broker or intermediary should promptly contact them directly and provide instructions to tender to the offer, including any U.S. dollar currency election. Registered shareholders holding common shares in their own name need to complete a letter of transmittal and send, along with share certificates or DRS statements, to the depositary at the address listed on the letter of transmittal.
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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, which would otherwise require the use of other treatment or disposal facilities that 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.
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