Petroteq Announces Results Of Shareholders' Meeting
07/25/2022 - 11:20 AM
SHERMAN OAKS, CA / ACCESSWIRE / July 25, 2022 / Petroteq Energy Inc. ("Petroteq " or the "Company ") (TSXV:PQE; OTC PINK:PQEFF; FSE:PQCF), an an oil company focused on the development and implementation of its proprietary oil sands extraction and remediation technologies, is pleased to announce that its shareholders (the "Shareholders ") have voted at the annual and special meeting of Shareholders on July 21, 2022 (the "Meeting ") in favor of all matters put to Shareholders at the Meeting.
All matters that were put before Shareholders at the Meeting were approved, including, a potential share consolidation (the "Consolidation "). Any potential Consolidation, as a result of the shareholder approval at the Meeting, including a consolidation ratio, is subject to director and TSX Venture Exchange approval. Shareholders are advised not to mail in the certificate(s) representing their common shares until they receive a letter of transmittal and confirmation from the Company by way of News Release that the directors of the Company have decided to implement the Consolidation.
For more information on the matters voted on at the Meeting, please see the Company's management informationcircular dated June 3, 2022, which has been filed on the Company's profile on SEDAR at www.sedar.com andat https://petroteq.energy/2022agm .
In addition, Petroteq announces that one of the amendments to the offer by Viston United Swiss AG ("Viston "), acting through 2869889 Ontario Inc., its subsidiary (the "Offeror ") to purchase all of the outstanding common shares of Petroteq as set out in the "Fifth Notice of Variation and Extension" as announced by Viston in Schedule TO/A (Amendment No. 13) filed by the Offeror with the Securities and Exchange Commission on July 22, 2022 and in a News Release issued on July 22, 2022, is that offer has been extended until September 9, 2022.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Petroteq Energy Inc.
SOURCE: Petroteq Energy Inc.
https://www.accesswire.com/709646/Petroteq-Announces-Results-Of-Shareholders-Meeting
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Industry
Crude Petroleum Extraction
Sector
Mining, Quarrying, and Oil and Gas Extraction
Tags
Integrated Oil, Energy Minerals
Country
US
City
Sherman Oaks
About PQEFF
mcw oil sands recovery, llc owns a patented, environmentally-safe, continuous flow closed-loop technology, which extracts oil from a wide range of oil and other hydrocarbon sediments types. mcw is focused on value creation of proprietary technologies for the environmentally-safe extraction of oil from oil sands and oil shale deposits, with an initial focus on utah and its first oil sands lease in asphalt ridge. mcw has a breakthrough, environmentally-friendly, proprietary oil sands extraction technology which is suitable for all hydrocarbon deposits. the closed-loop technology may also be applied for remedial project such as tailings ponds. after the launch of its first extraction plant in utah, the company is now scaling up its capacity with several additional, higher capacity extraction units within the state, which has over 30 billion barrels of undeveloped but recoverable oil. (doe estimate.) asphalt ridge, the location of mcw’s first plant, is one of utah’s 8 major oil sands depos
