NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 09/04/2019 4:19:53 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Secures Financing for Asphalt Ridge Extraction Technology, Working Capital
Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), a fully integrated surface oil sands mining oil company with proprietary technology, on Tuesday announced the issuance to an arm’s length lender of a US$480,000 principal amount (including a 20% original issue discount) unsecured convertible debenture, and warrants exercisable for up to 2,666,666 of the company’s common shares, each at US$0.15, for 12 months. The debenture has a 12-month term and bears a 3.3% interest rate per annum payable on maturity, and, at the option of the holder and in accordance with the terms and conditions, the purchase amount of the debenture (excluding the original issue discount of 20%) is convertible into 2,666,666 common shares of the company at US$0.15 per share. Petroteq will use the net proceeds of the financing on its extraction technology in Asphalt Ridge, Utah, as well as for working capital.
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) (OTC: PQEFF), a fully integrated surface oil sands mining oil company with proprietary technology, on Tuesday announced the issuance to an arm’s length lender of a US$480,000 principal amount (including a 20% original issue discount) unsecured convertible debenture, and warrants exercisable for up to 2,666,666 of the company’s common shares, each at US$0.15, for 12 months. The debenture has a 12-month term and bears a 3.3% interest rate per annum payable on maturity, and, at the option of the holder and in accordance with the terms and conditions, the purchase amount of the debenture (excluding the original issue discount of 20%) is convertible into 2,666,666 common shares of the company at US$0.15 per share. Petroteq will use the net proceeds of the financing on its extraction technology in Asphalt Ridge, Utah, as well as for working capital.
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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