Studio City, CA -- February 27, 2018 -- InvestorsHub NewsWire
-- Petroteq Energy Inc. (“Petroteq” or
the “Company”) (TSXV: PQE; OTCQX: PQEFF; Frankfurt:
A2DYWC), a company focused on the development and implementation of
proprietary technologies for the energy industry, today announced
the engagement of strategic media and marketing partners.
The Company is pleased to be working with NetworkNewsWire, a
financial news and content distribution company, and Stockhouse,
Canada’s leading financial portal and one of North America’s
largest small cap investor communities, to help develop deeper
industry and investor awareness. Petroteq has also agreed to
collaborate with Recruiter.com, a leading online global recruiting
service provider, through which the Company intends to access
thousands of energy industry executives that may generate inbound
inquiries to the unique technologies Petroteq has developed.
“It is critical for Petroteq to expand our audience of
investors, as we continue to make significant progress with the
construction of our extraction plant at Asphalt Ridge,” said
Petroteq CEO, Alex Blyumkin. “We have selected partners whose
networks we expect to be able to leverage in order to reach the
broadest possible audience to whom we can communicate our
development and the scope of our business.”
Assembly of Petroteq’s heavy oil extraction plant in Utah is
proceeding ahead of schedule. The facility is expected to be the
first such operation in the country to be powered by Petroteq’s
blockchain-based supply chain management system, being developed
by PetroBLOQ, a wholly owned subsidiary of the Company.
“We are excited to move forward with our plans to leverage our
proprietary technologies as Asphalt Ridge nears its scheduled
opening,” continued Blyumkin, “and to share the significant
potential of PetroBloq, our blockchain-based system, in
development, to create sustainable efficiencies for the oil and gas
industry.”
About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company focused on
the development and implementation of a new proprietary technology
for oil extraction. The Company has an environmentally safe and
sustainable technology for the extraction of heavy oils from oil
sands, oil shale deposits and shallow oil deposits. Petroteq is
engaged in the development and implementation of its patented
environmentally friendly heavy oil processing and extraction
technologies. Our proprietary process produces zero greenhouse gas,
zero waste and requires no high temperatures. Petroteq is currently
focused on developing its oil sands resources and expanding
production capacity at its Asphalt Ridge heavy oil extraction
facility located near Vernal, Utah. The Company also owns a
minority stake in an exploration and production play located in
southwest Texas held by Accord GR Energy Inc. In addition, the
Company, through its wholly owned subsidiary PetroBLOQ, LLC, is
seeking to develop the first blockchain based platform created
exclusively for the supply chain needs of the oil & gas
sector. For more information,
visit www.Petroteq.energy and PetroBLOQ.com.
Forward-Looking Statements
Certain statements contained in this news release contain
forward-looking statements within the meaning of the U.S. and
Canadian securities laws. Words such as "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions as they relate to the Company, including: working with
NetworkNewsWire and Stockhouse helping to develop deeper industry
and investor awareness of the Company; the Company obtaining access
to thousands of energy industry executives to generate inbound
inquiries through Recruiter.com; the Company’s facility being the
first such operation in the country to be powered by Petroteq’s
blockchain-based supply chain management system; and Asphalt Ridge
nearing its scheduled opening; and Petroteq’s blockchain-based
system creating sustainable efficiencies for the oil and gas
industry; are intended to identify forward-looking information. All
statements other than statements of historical fact may be
forward-looking information. Such statements reflect the Company's
current views and intentions with respect to future events, based
on information available to the Company, and are subject to certain
risks, uncertainties and assumptions. Material factors or
assumptions were applied in providing forward-looking information,
including: working with one or both of NetworkNewsWire and
Stockhouse resulting in deeper industry and investor awareness of
the Company; working with Recruiter.com resulting in thousands of
energy industry executives generating inbound inquiries; the
Company having the funds and know how to successfully develop a
develop a blockchain-based supply chain management system that
creates sustainable efficiencies for the oil and gas industry; and
the Company’s oil extraction plant being successfully completed and
operating on a commercial basis. While forward-looking statements
are based on data, assumptions and analyses that the Company
believes are reasonable under the circumstances, whether actual
results, performance or developments will meet the Company's
expectations and predictions depend on a number of risks and
uncertainties that could cause the actual results, performance and
financial condition of the Company to differ materially from its
expectations.
Certain of the “risk factors” that could cause actual
results to differ materially from the Company’s forward-looking
statements in this press release include, without limitation:
PetroBLOQ not having the expertise and/or funds necessary to
develop and implement a blockchain-based supply chain management
system at the Asphalt Ridge plant; changes in laws or regulations;
the ability to implement business strategies or to pursue business
opportunities, whether for economic or other reasons; status of the
world oil markets, oil prices and price volatility; oil pricing;
state of capital markets and ability by the Company to raise
capital; litigation; the commercial and economic viability of the
Company’s oil sands hydrocarbon extraction technology, the SWEPT
technology, the S-BRPT technology, and other proprietary
technologies developed or licensed by the Company or by Accord,
which are of experimental nature and have not been used at full
capacity for an extended period of time; reliance on suppliers,
contractors, consultants and key personnel; the ability of the
Company and Accord to maintain their respective mineral lease
holdings; potential failure of the Company’s business plans or
model; the nature of oil and gas production and oil sands mining,
extraction and production; uncertainties in exploration and
drilling for oil, gas and other hydrocarbon-bearing substances;
unanticipated costs and expenses, availability of financing and
other capital; potential damage to or destruction of property, loss
of life and environmental damage; risks associated with compliance
with environmental protection laws and regulations; uninsurable or
uninsured risks; potential conflicts of interest of officers and
directors; and other general economic, market and business
conditions and factors, including the risk factors discussed or
referred to in the Company’s disclosure documents, filed with the
securities regulatory authorities in certain provinces of Canada
and available at www.sedar.com.
Should any factor affect the Company in an unexpected
manner, or should assumptions underlying the forward-looking
information prove incorrect, the actual results or events may
differ materially from the results or events predicted. Any such
forward-looking information is expressly qualified in its entirety
by this cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release, and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
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. Alex Blyumkin Chief Executive Officer Tel: (800) 979-1897