- Petroteq Energy (PQE) has increased its non-brokered private placement of units from C$80,000 to C$120,000
- The company has also amended the terms of the warrants issuable in connection with the private placement
- The warrants will now expire 24 months following the closing of the private placement at an exercise price of $0.05
- Petroteq Energy Inc. is a clean technology company focused on oil and gas
- Petroteq Energy Inc. opened trading at C$0.035 per share
Petroteq Energy (PQE) has increased its non-brokered private placement from C$80,000 to C$120,000.
The company has also amended the terms of the warrants issuable in connection with the private placement.
The warrants will now expire 24 months following the closing of the private placement at an exercise price of $0.05.
Each unit will be made up of one common share in the capital of the company and one-half of one common share purchase warrant.
The company will now issue up to 2,400,000 units for total gross proceeds of up to C$120,000.
The closing of the private placement is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
All securities issued in connection with the private placement will be subject to resale hold periods under applicable Canadian securities laws.
Petroteq Energy Inc. is a clean technology company focused on the development, implementation, and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits.
Petroteq Energy Inc. opened trading at C$0.035 per share.