Petroteq Comments on Expiry of Viston Offer

Rhea-AI Summary

Petroteq Energy Inc. (TSXV:PQE)(OTC PINK:PQEFF) announced an extension of a share purchase offer by Viston United Swiss AG through its subsidiary until July 22, 2022. This amendment follows a request from the TSX Venture Exchange, ensuring all outstanding common shares of Petroteq can still be acquired. This decision is part of ongoing strategic moves in the oil sector as the company focuses on proprietary oil sands extraction technologies.

Positive

• Share purchase offer extended until July 22, 2022, indicating ongoing interest from Viston.
• Focus on proprietary extraction technologies may enhance future operational capabilities.

Negative

• Extension of the offer may signal ongoing uncertainty regarding shareholder value and demand.

SHERMAN OAKS, CA / ACCESSWIRE / June 28, 2022 / Petroteq Energy Inc. ("Petroteq") ‎‎‎(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, announces that, at the request of the TSX Venture Exchange, 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 "Fourth Notice of Variation and Extension" as announced by Viston in Schedule TO/A (Amendment No. 10) filed by the Offeror with the Securities and Exchange Commission on June 17, 2022 and in a News Release issued on June 17, 2022, is that offer has been extended until July 22, 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.‎
Vladimir Podlipskiy
Interim Chief Executive Officer
Tel: (800) 979-1897‎

SOURCE: Petroteq Energy Inc

View source version on accesswire.com:
https://www.accesswire.com/706884/Petroteq-Comments-on-Expiry-of-Viston-Offer

FAQ

What is the current status of the Viston offer for Petroteq Energy?

The Viston offer to purchase Petroteq Energy shares has been extended until July 22, 2022.

What is Petroteq Energy's stock symbol?

Petroteq Energy's stock symbol is PQEFF.

Why was the Viston offer extended?

The extension was made at the request of the TSX Venture Exchange to facilitate the share purchase.

When was the Viston offer originally announced?

The original offer was announced in a news release on June 17, 2022.