Petroteq Announces Equity Offering of up to US $2.5 Million - Seite 2

The Units, Common Shares and Warrants being offered have not been, nor will they be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" or persons in the "United States" (as those terms are defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. The Units will be offered and sold to the Investor pursuant to an exemption from the ‎registration requirements of the U.S. Securities Act and applicable state securities laws, and will be issued as "restricted securities" (as such term is defined in ‎Rule 144(a)(3) under the U.S. Securities Act). In addition, the securities issuable pursuant to the Offering will be subject to a Canadian four-month hold period.‎

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.‎