MiningNewsBreaks – 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.

To view the full press release, visit http://nnw.fm/2Pip6

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.

NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at http://nnw.fm/PQEFF

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