NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 06/15/2020 4:00:37 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Announces Execution of Shares for Debt Agreements
Petroteq Energy (TSX.V: PQE) (OTC: PQEFF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, on Friday announced the execution of shares for debt agreements, pursuant to which it will issue an aggregate of 7,064,864 common shares in satisfaction of US$389,712 (including accrued interest) of indebtedness currently owed to six arm’s length creditors. According to the update, the Company determined to satisfy the indebtedness with common shares in order to preserve its cash for use 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), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, on Friday announced the execution of shares for debt agreements, pursuant to which it will issue an aggregate of 7,064,864 common shares in satisfaction of US$389,712 (including accrued interest) of indebtedness currently owed to six arm’s length creditors. According to the update, the Company determined to satisfy the indebtedness with common shares in order to preserve its cash for use 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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