NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 04/03/2019 5:08:30 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Closes Resource Acquisition
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) this morning announced the closing and issuance of 15,000,000 common shares to Momentum Asset Partners I, LLC, representing the equity section of the consideration payable to Momentum pursuant to the acquisition of 50% of the operating rights and interests relating to oil sands under U.S. federal oil and gas leases totaling roughly 8,480 gross acres in Utah. Petroteq also reported the closing of subscriptions for 1,730,263 common shares and warrants exercisable for 1,481,481 common shares for gross proceeds of $482,000. In addition, the company announced the execution of an agreement with an arm’s length supplier in which Petroteq has agreed to issue the supplier 700,000 common shares in consideration for its decision to not move forward with the purchase of certain pieces of used equipment as it made the decision to purchase new equipment from a different supplier. The issuance of these shares is subject to approval by the TSX Venture Exchange and will have a four-month hold period.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) this morning announced the closing and issuance of 15,000,000 common shares to Momentum Asset Partners I, LLC, representing the equity section of the consideration payable to Momentum pursuant to the acquisition of 50% of the operating rights and interests relating to oil sands under U.S. federal oil and gas leases totaling roughly 8,480 gross acres in Utah. Petroteq also reported the closing of subscriptions for 1,730,263 common shares and warrants exercisable for 1,481,481 common shares for gross proceeds of $482,000. In addition, the company announced the execution of an agreement with an arm’s length supplier in which Petroteq has agreed to issue the supplier 700,000 common shares in consideration for its decision to not move forward with the purchase of certain pieces of used equipment as it made the decision to purchase new equipment from a different supplier. The issuance of these shares is subject to approval by the TSX Venture Exchange and will have a four-month hold period.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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