PETROTEQ ENERGY INC - PQEFF STOCK NEWS

Petroteq Energy Inc. (TSXV:PQE, OTC PINK:PQEFF) has successfully secured over US$5 million through its recent equity and debt financing initiatives. This includes US$2.1 million from 17,874,996 units priced at US$0.12 per unit and a US$3 million convertible secured debenture, among others. Proceeds will support the company's oil extraction technology in Asphalt Ridge, Utah. Executive Chairman Alex Blyumkin highlighted the confidence in the company and its technology.

Petroteq Energy Inc. (OTC PINK: PQEFF) announced plans to conduct debt conversions with two lenders and its directors, issuing a total of 3,195,632 common shares at a deemed price of US$0.094 per share. This will settle approximately US$300,389.63 in accrued debt. The company aims to preserve cash for its proprietary extraction technology in Asphalt Ridge, Utah. The transactions are pending necessary approvals and will be subject to hold periods. This represents a strategic move to manage financial obligations while maintaining operational liquidity.

Petroteq Energy Inc. announced that its oil production at the Asphalt Ridge facility resumed, with the first truckload of oil sold at a price of US$70.91 per barrel. After transport costs, the net realized price was US$57.91 per barrel. Additionally, a sample of this oil will be sent to Quadrise Fuels for testing. The company is also partnering with a drilling fluids company to sell processed sand, projecting proceeds of US$15-20 per ton. These developments indicate a potential premium for their oil and a viable market for their clean sand product.

Petroteq Energy has announced the sale of 250 barrels of oil produced at its Asphalt Ridge plant, testing at 10.9° API. Greenfield Energy is set to acquire up to 100% of Tar Sands Holdings II LLC (TSHII), which holds approximately 760 acres in Utah. This potential acquisition is part of a joint venture with Valkor LLC. Greenfield has also secured a non-exclusive license with Petroteq, which includes a 5% royalty on net revenues from future oil sand plants using Petroteq's technology. The announcement is seen as a positive step for Petroteq's Clean Oil Recovery Technology.

Petroteq Energy Inc. (OTC:PQEFF) announced debt conversion agreements with two lenders, exchanging 1,388,897 shares at US$0.139 each to settle US$193,057 in debt. This strategy aims to conserve cash for advancing their proprietary oil extraction technology in Utah. Additionally, the company completed an equity financing of 2,666,665 shares at US$0.06 for gross proceeds of US$130,000. The transactions await necessary approvals from the TSX Venture Exchange and will adhere to U.S. Security Act exemptions.

Petroteq Energy has reported a significant milestone with the production of 250 barrels of sales oil from its upgraded oil sands plant at Asphalt Ridge, following the restart of operations. The company is advancing its proprietary Clean Oil Recovery Technology (CORT), with third-party verification nearing completion. A nearby company plans to evaluate and potentially process an additional 500 tons of cleaned sand. Petroteq anticipates completing a FEED study for a 5,000 barrel per day production train by July 2021.

Petroteq Energy Inc. (TSXV: PQE; OTC: PQEFF) updates shareholders on a recent offer to purchase its common shares, reported in a German publication. The offer, originating from Uppgard Konsult AB, has not been substantiated and lacks filings under the Securities Exchange Act or Canadian securities laws, suggesting it may not be legitimate. The Company's Board believes the offer undervalues Petroteq, and shareholders are advised to conduct due diligence before engaging with any third parties.

Petroteq Energy Inc. has resumed operations at its oil sands plant at Asphalt Ridge after receiving a modified Cessation Order from Utah's DOGM. The suspension initially stemmed from concerns regarding the processing of offsite oil sands ore. The company is now refocusing on sustained production following the completion of data gathering for its proposed 5,000 BPD commercial production train. Additionally, initial evaluations of cleaned sand by a drilling fluids company yielded positive results, indicating potential for further processing and sales.

Petroteq Energy Inc. (OTC:PQEFF) announced that it received reports from European shareholders regarding an unsolicited offer to purchase its shares, referenced in a German publication, Bundesanzeiger. The company contacted Uppgard Konsult AB, the identified party, to gain clarity on the offer, which is associated with an undisclosed third party. Petroteq stated it was unaware of the offer and cannot confirm its legitimacy or compliance with applicable laws. Shareholders are urged to conduct their own due diligence before taking any action regarding the offer.