MiningNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Announces Amendment to Securities and Shares for Debt

Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), an integrated oil ‎company focused on the development and implementation of its proprietary oil-‎extraction and remediation technologies, on Wednesday announced the amendment of three convertible debentures and three warrants issued to an arm’s length lender between July 2019 and October 2019. According to the update, the parties to the agreement intend to amend the conversion price applicable to the purchase price (US$650,000) of the US$780,000 principal amount convertible debentures from US$0.17, US$0.19 and US$0.21 to US$0.037. 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. These and additional transactions as detailed in the news release are subject to approval of the TSX Venture Exchange.

To view the full press release, visit http://nnw.fm/5gjsD

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://nnw.fm/PQEFF

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