Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, on Tuesday announced that it would not be in a position to file its Quarterly Report on Form 10-Q for the three and six months ended February 29, 2020 (the “Quarterly Report”) by the filing deadline of April 14, 2020. This includes Petroteq’s interim financial statements for the three and six months ended February 29, 2020 and the related management’s discussion and analysis, as required by U.S. and Canadian securities laws. The news release was issued in accordance with the blanket orders issued by applicable securities commissions comprising the Canadian Securities Administrators (the “CSA”) on March 23, 2020. The blanket orders provide for a 45-day extension for certain periodic filings, including the Quarterly Report. In addition, the Company is relying on similar relief granted by order of the Securities and Exchange Commission (the “SEC”) on March 25, 2020 (which extended and superseded a prior order issued on March 4, 2020) pursuant to Section 36 of the United States Securities Exchange Act of 1934, as amended (Release No. 34-88318) (the “Order”). The Order requires the Company to file the Quarterly Report with the SEC no later than May 29, 2020, which is 45 days after the original due date of the Quarterly Report.
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About Petroteq Energy Inc.
Petroteq is a fully integrated clean technology company focused on the development and implementation of a new proprietary technology for oil extraction. The company has an environmentally safe and sustainable technology for the extraction and reclamation of heavy and bitumen from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge soil remediation and heavy oil extraction processing facility located near Vernal, Utah. For more information, visit www.Petroteq.energy.
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