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Petroteq Announces Closing of Financings

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
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SHERMAN OAKS, Calif., Sept. 20, 2019 (GLOBE NEWSWIRE) -- 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 the issuance to an arm’s length lender of a US$240,000 principal amount (including an original issue discount of 20%) unsecured convertible debenture, and warrants exercisable for up to 952,380 common shares of the Company at US$0.26 per share for 15 months. The debenture has a term of 15 months and bears interest at a rate of 7% per annum payable quarterly, and at the option of the holder the purchase amount of the debenture (US$200,000) is convertible into 952,380 common shares of the Company at US$0.21 per share in accordance with the terms and conditions set out in the debenture.

The Company also announces it has closed its previously announced (September 17, 2019) equity financing of 6,091,336 common shares of the Company at US$0.13 per share for gross proceeds of US$791,874. The net proceeds will be used by the Company on its extraction technology in Asphalt Ridge, Utah, and for working capital.

The Company has also closed a tranche of its previously announced (September 17, 2019) equity financing at US$0.18. The Company raised gross proceeds of US$1,700,000 through the issuance of (i) 1,111,111 units at US$0.18 per unit, with each unit consisting of (a) one common share of the Company, and (b) 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, and (ii) 8,333,333 common share of the Company at US$0.18 per share. The net proceeds will be used by the Company on its extraction technology in Asphalt Ridge, Utah, and for working capital. Subject to compliance with securities laws and the TSX Venture Exchange, the Company may issue additional securities under the financing up until October 20, 2019, which will be announced as, and if, they occur.

All securities issued pursuant to the financings are subject to resale restrictions, including, without limitation, a Canadian four-month hold period.

About Petroteq Energy Inc.
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Fröhliche Verwässerung

a) 952.380 Stammaktien
+
b)6.091.336 Stammaktien
+
c)1.111.111 Einheiten + 8.333.333.333

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Na, dann kann die Aktie ja wider fallen
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Alles nur meine Meinung und keine Beratung zu kauf oder Verkauf
 
aus der Diskussion: Petroteq Energy Öl / Sand Extraktion interessante Ressourcennutzung !?
Autor (Datum des Eintrages): morimori  (21.09.19 15:10:26)
Beitrag: 205 von 3,997 (ID:61537916)
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