Petroteq Responds to Unsolicited Takeover Bid by Viston United Swiss AG
Petroteq remains committed to maximizing value for all stakeholders and is considering potential opportunities to create value for all shareholdersSHERMAN OAKS, CA / ACCESSWIRE / October 27, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") …
Petroteq remains committed to maximizing value for all stakeholders and is considering potential opportunities to create value for all shareholders
SHERMAN OAKS, CA / ACCESSWIRE / October 27, 2021 / Petroteq Energy Inc. ("Petroteq" or the "Company") (TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), an oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, today confirmed that 2869889 Ontario Inc., an indirect, wholly-owned subsidiary of Viston United Swiss AG (together, the "Offeror") has commenced a conditional, unsolicited takeover bid (the "Offer") to acquire all of the issued and outstanding common shares of the Company. Petroteq shareholders are advised to take no action in respect of the Offer until Petroteq's Board of Directors (the "Board") has made a formal recommendation to shareholders.
Petroteq cautions its shareholders and potential investors that there can be no certainty that the Offer will be supported by the Board or that any other strategic transaction with any other person will be pursued by Petroteq or ultimately completed. The Board is reviewing the Offer and will make its formal recommendation in response to the Offer as required by applicable securities laws.
Consistent with its fiduciary duties, the Board will evaluate the Offer and Petroteq's options, including continuing to operate the business to drive shareholder value and potentially exploring possible alternative transactions.
The Board continues to believe Petroteq is well positioned to be an industry leader with its one of a kind oil sands extraction technology.
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 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.
|Diskussion: Petroteq Energy Öl / Sand Extraktion interessante Ressourcennutzung !?|