Petroteq Announces Filing and Mailing of Directors' Circular in Response to the Unsolicited Takeover Bid by Viston United Swiss AG - Seite 3

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.

Additional Information

Petroteq has filed the Directors' Circular with Canadian securities regulators and a Solicitation/Recommendation ‎Statement on Schedule 14D-9 with the United States Securities and Exchange Commission (the "SEC") which ‎includes the Directors' Circular as an exhibit. The Directors' Circular and Solicitation/Recommendation Statement, ‎and any amendment thereto filed by Petroteq that is required to be mailed to shareholders, will be mailed to ‎shareholders of Petroteq. SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THESE AND OTHER ‎DOCUMENTS FILED WITH CANADIAN SECURITIES REGULATORS OR THE SEC IN THEIR ENTIRETY ‎WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN CERTAIN IMPORTANT INFORMATION. ‎Shareholders will be able to obtain the Directors' Circular, the Solicitation/Recommendation Statement, and any ‎amendments or supplements thereto, and other documents filed by Petroteq with Canadian securities regulators ‎and the SEC related to the Viston Offer, for no charge: on SEDAR under Petroteq's profile at www.sedar.com; on ‎EDGAR at www.sec.gov; or www.petroteq.com. Any questions and requests for assistance may be directed to ‎Petroteq's Information Agent, Shorecrest Group Ltd. (North American Toll Free Phone: [phone]; e-mail: ‎[e-mail]; outside North America, banks and brokers call collect: 647-931-7454).‎