QualityStocksNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Announces New Financing, Amendment to Securities and Shares for Debt
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 Wednesday announced the receipt of an irrevocable subscription agreement from an arm’s length lender. According to the update, the agreement was for a $150,000 principal amount (including a 20% original issue discount) convertible debenture and warrants exercisable for up to 3,033,980 common shares of the company at $0.0412 per share for 12 months. The debenture will bear no interest and have a term of 12 months. At the holder’s option, the purchase price of the debenture…