Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an oil company focused on the development and implementation of its proprietary oil sands extraction and remediation technologies, has announced that it applied for the resumption of trading in the company’s common shared, and that application was accepted by the TSX Venture Exchange. The company anticipates that shares will begin trading again this week. In August 2021, Petroteq received a cease trade order (“CTO”) from the Ontario Securities Commission because the company had failed to file its quarterly report and related certifications for the period ended May 31, 2021, as required. Since then, Petroteq has worked to meet requirements for reinstatement as outlined in the trading reinstatement review conducted by the Compliance and Disclosure department of the TSXV. Among those requirements was the formation of a Regulatory Oversight and Advisory Committee (“ROC”) that ensure that all activities of Petroteq requiring filing and/or the approval of the TSXV are appropriately prepared, reviewed by the ROC and filed with the TSXV. The ROC will establish several key controls in order to accomplish that mandate. “The company wishes to take this opportunity to thank its compliance advisors and legal experts in assisting management in this effort, for which the company expresses great appreciation,” said Petroteq CEO Vladimir Podlipskiy in the press release. “Likewise, the company expresses gratitude for the efforts by the Exchange and its compliance staff for their work toward a mutually agreeable and orderly resumption of trading. The company wishes to thank shareholders for their patience and commitment to Petroteq during this challenging period.”
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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, Utah, without requiring the use of water and, therefore, without generating wastewater that 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, which can be sold or returned to the environment without the use of tailings ponds or further remediation. For more information about the company, visit www.Petroteq.energy.
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