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$PQEFF Insider CANTONE ANTHONY J has Purchased 33,552,083 Shares
Title :10% Owner
Total Cost: $3,517,499.96
Buy/Sell : Buy
https://fintel.io/n/us/pqeff/cantone-anthony-j?utm_source=Twitter&utm_medium=Social&utm_campaign=insider
$PQEFF Insider CANTONE ANTHONY J has Purchased 33,552,083 Shares.
Title :10% Owner
Total Cost: $3,517,499.96
Buy/Sell : Buy
https://fintel.io/n/us/pqeff/cantone-anthony-j?utm_source=Twitter&utm_medium=Social&utm_campaign=insider
$PQEFF Insider CANTONE ANTHONY J has Purchased 33,552,083 Shares.
Title :10% Owner
Total Cost: $3,517,499.96
Buy/Sell : Buy
https://fintel.io/n/us/pqeff/cantone-anthony-j?utm_source=Twitter&utm_medium=Social&utm_campaign=insider
$OTLC Letter to Oncotelic Shareholders on the Recently Completed Joint Venture Transaction with Dragon Overseas Capital Limited
AGOURA HILLS, Calif., April 07, 2022 (GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc. (“Oncotelic” or the “Company”) (OTCQB:OTLC), issued the following shareholder letter today.
Dear Fellow Shareholders,
We would like to thank you for being part of our mission at Oncotelic which is to develop treatments for cancer patients that have limited options. Our efforts include pursuing broad applications of our technology as well as the treatment of cancer types that are given orphan drug designation (“ODD”) meaning there are a limited number of patients that have a high unmet medical need. We have spent considerable time and effort to unify our collective assets toward the achievement of this goal. This effort included receiving a Rare Pediatric Disease (“RPD”) designation for pediatric cancer which give us access to the RPD voucher on top of the regulatory exclusivity reserved for ODD while we continue strategic planning for broader applications of our technologies. Taken together, these efforts give us the potential to produce a strong return on investment for our shareholders
Earlier this week, we announced together with our partner Dragon Overseas Capital Limited (“Dragon Overseas”), that we have formed a joint venture (the “JV”) for the discovery, development and commercialization TGF-ß therapeutics against all pharmaceutical indications. The JV intends to initially focus on the further development and commercialization of OT-101, including for DIPG as well as pancreatic cancers and glioblastoma, which are devasting diseases with few treatment options. In connection with this, the Company has granted the JV global, exclusive, perpetual, royalty-free license of intellectual property rights, including and in respect of OT-101 (the “License”).
Our TGF-beta drug candidate- OT-101 has completed seven clinical trials including one phase 2 trial in COVID and two phase 2 trials in brain cancer and against pancreatic cancer. We received FDA designation for pediatric designation related to a rare form of pediatric brain cancer known as diffuse intrinsic pontine glioma (“DIPG”). There are approximately 200-300 new cases of DIPG every year in the United States. DIPG most often occurs in children ages 5-10 years old. Treatment options are limited with surgery being contraindicated. Most children do not survive more than 2 years after diagnosis. Currently, the main treatment for DIPG is radiation therapy. Although radiation temporarily improves symptoms in most patients, it is not a cure. Palliative care or quality of life services help patients and families manage pain and other symptoms, promote quality of life, and making difficult decisions including treatment choices and end of life care. At Oncotelic, we are dedicated to the treatment of DIPG and welcome our shareholders on this endeavor.
The anti-viral activity of OT-101, in an in vitro antiviral testing performed by an independent laboratory, OT-101 has an 50% effective concentration (EC50) of 7.6 µg/mL and is not toxic at the highest dose of 1000 µg/mL giving a safety index (SI) value of >130, which is considered highly active and on par or superior to Remdesivir. Unlike Remdesivir, OT-101 targets not only the virus replication but also the virus induced pneumonia and fibrosis. Our Phase 2 trial was completed for OT-101 in South America. This was a randomized, double-blind, placebo-controlled Phase 2 study intended to evaluate the safety and efficacy of OT-101 in adult patients hospitalized with positive SARS-CoV-2 and pneumonia. As reported on November 23, 2021, the top line data is positive for safety and efficacy.
This transaction allows us to unburden the Company of the high cost of drug development, which the JV will be responsible for, while the Company will participate in its upside through appreciation in the value of its shares in the JV and up to $50MM on the sale of the RPD voucher following marketing approval of OT-101 for DIPG. Dragon Overseas has agreed to invest cash and other assets with a value of approximately $27.6MM for 55% ownership of the JV; and Oncotelic has granted the License to the JV for 45% ownership in the JV.
The fuel needed to drive OT-101 development is robust financing- and the JV provides that. This combination of strong financial backing and strong asset creates a solid foundation for the coming IPO. We believe that the JV IPO will be as successful as other recent IPOs in the TGF-ß space. We believe that there is a substantial upside for the Company due to this JV especially if we are able to have a successful IPO. Your attention is drawn to Litchfield’s analyst, Theodore R. O’Neill’s recent coverage on the Company. (https://www.oncotelic.com/wp-content/uploads/2022/03/OTLC-JV-update.pdf).
In the coming months the team will be transitioning into the JV to ensure continuity of operational excellence. Look for future announcements on clinical trials undertaken by the JV in collaboration with pharmaceutical houses and Key Opinion Leaders “KOLs”. Dr. Anthony Maida, our current CCO, will drive the JV’s clinical development of OT-101 in combination with checkpoint inhibitors including pembrolizumab. Multiple phase 2 clinical trials are intended to be launched with our collaborators. Dr. Maida believes that this Joint Venture provides the resources and financial support for Oncotelic allowing to execute its clinical strategy in multiple solid tumor indications coupled with a robust and thorough bioinformatics assessment leading to upstream targeting, improved clinical responses and insights into agnostic applications.
We appreciate your continued support in our development of cures for orphan and rare diseases. By combining innovative drugs and robust financing we look to transform healthcare one rare disease at a time.
Sincerely yours,
Vuong Trieu and the Oncotelic team
About Oncotelic
Oncotelic (f/k/a Mateon Therapeutics, Inc.), was formed in the State of New York in 1988 as OXiGENE, Inc., was reincorporated in the State of Delaware in 1992, and changed its name to Mateon Therapeutics, Inc. in 2016, and Oncotelic Therapeutics, Inc. in November 2020. Oncotelic is seeking to leverage its deep expertise in oncology drug development to improve treatment outcomes and survival of cancer patients with a special emphasis on rare pediatric cancers. Oncotelic has rare pediatric designation for DIPG (OT-101), melanoma (CA4P), and AML (OXi 4503). Oncotelic also acquired PointR Data Inc. in November 2019.
Additionally, Oncotelic acquired AL-101, during the 4th quarter of 2021, for the intranasal delivery of apomorphine. We intend to develop AL-101 for the treatment of Parkinson Disease (“PD”). Over 60,000 new patients are being diagnosed with PD in the United States and currently there are over 1 million patients in the US and expected to increase to over 1.2 million by 2030. In addition, approximately 10 million suffer from this disease globally. https://www.parkinson.org/Understanding-Parkinsons/Statistics. AL-101 is also being developed for Erectile Dysfunction (“ED”). ED is the most prevalent male sexual disorder globally. The percentages of men affected by ED are as follows: 14.3-70% of men aged ≥60 years, 6.7-48% of men aged ≥70 years, and 38% of men aged ≥80 years (Geerkens MJM et al. (2019). Eur Urol Focus. pii: S2405-4569(19)30079-3). However, with the increasing administration of PDE5 inhibitors in clinical practice, it was found that approximately 30-35% of ED patients are treatment failures (McMahon CN et al. (2006). BMJ, 332: 589-92). AL-101 is designed to target treatment failure ED patients who do not respond to PDE5 inhibitors. Through similar mechanism of action, AL-101 is being developed for Female Sexual Dysfunction (“FSD”). Female sexual dysfunction is a prevalent problem, afflicting approximately 40% of women and there are few treatment options. FSD is more typical as women age and is a progressive and widespread condition. (Allahdadi, KJ et al. (2009) Cardiovascular & hematological agents in medicinal chemistry, 7(4), 260–269). There is no available drug for the treatment of FSD. In June 2019, the U.S. Food and Drug Administration approved Vyleesi (bremelanotide) to treat acquired, generalized hypoactive sexual desire disorder (“HSDD”) in premenopausal women. This is the only available drug treatment. Vyleesi has essentially replaced the only other drug for HSDD – however, it has a long list of drug-drug interactions, including commonly used antidepressants, such as fluoxetine and sertraline. In addition, it has a black box warning regarding its use with alcohol, a combination that has been associated with hypotension and syncopal episodes. Therefore, there is an urgent need for effective therapy against FSD and HSDD.
For more information, please visit www.oncotelic.com
https://www.globenewswire.com/news-release/2022/04/07/2418633/0/en/Letter-to-Oncotelic-Shareholders-on-the-Recently-Completed-Joint-Venture-Transaction-with-Dragon-Overseas-Capital-Limited.html
$OTLC Letter to Oncotelic Shareholders on the Recently Completed Joint Venture Transaction with Dragon Overseas Capital Limited
AGOURA HILLS, Calif., April 07, 2022 (GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc. (“Oncotelic” or the “Company”) (OTCQB:OTLC), issued the following shareholder letter today.
Dear Fellow Shareholders,
We would like to thank you for being part of our mission at Oncotelic which is to develop treatments for cancer patients that have limited options. Our efforts include pursuing broad applications of our technology as well as the treatment of cancer types that are given orphan drug designation (“ODD”) meaning there are a limited number of patients that have a high unmet medical need. We have spent considerable time and effort to unify our collective assets toward the achievement of this goal. This effort included receiving a Rare Pediatric Disease (“RPD”) designation for pediatric cancer which give us access to the RPD voucher on top of the regulatory exclusivity reserved for ODD while we continue strategic planning for broader applications of our technologies. Taken together, these efforts give us the potential to produce a strong return on investment for our shareholders
Earlier this week, we announced together with our partner Dragon Overseas Capital Limited (“Dragon Overseas”), that we have formed a joint venture (the “JV”) for the discovery, development and commercialization TGF-ß therapeutics against all pharmaceutical indications. The JV intends to initially focus on the further development and commercialization of OT-101, including for DIPG as well as pancreatic cancers and glioblastoma, which are devasting diseases with few treatment options. In connection with this, the Company has granted the JV global, exclusive, perpetual, royalty-free license of intellectual property rights, including and in respect of OT-101 (the “License”).
Our TGF-beta drug candidate- OT-101 has completed seven clinical trials including one phase 2 trial in COVID and two phase 2 trials in brain cancer and against pancreatic cancer. We received FDA designation for pediatric designation related to a rare form of pediatric brain cancer known as diffuse intrinsic pontine glioma (“DIPG”). There are approximately 200-300 new cases of DIPG every year in the United States. DIPG most often occurs in children ages 5-10 years old. Treatment options are limited with surgery being contraindicated. Most children do not survive more than 2 years after diagnosis. Currently, the main treatment for DIPG is radiation therapy. Although radiation temporarily improves symptoms in most patients, it is not a cure. Palliative care or quality of life services help patients and families manage pain and other symptoms, promote quality of life, and making difficult decisions including treatment choices and end of life care. At Oncotelic, we are dedicated to the treatment of DIPG and welcome our shareholders on this endeavor.
The anti-viral activity of OT-101, in an in vitro antiviral testing performed by an independent laboratory, OT-101 has an 50% effective concentration (EC50) of 7.6 µg/mL and is not toxic at the highest dose of 1000 µg/mL giving a safety index (SI) value of >130, which is considered highly active and on par or superior to Remdesivir. Unlike Remdesivir, OT-101 targets not only the virus replication but also the virus induced pneumonia and fibrosis. Our Phase 2 trial was completed for OT-101 in South America. This was a randomized, double-blind, placebo-controlled Phase 2 study intended to evaluate the safety and efficacy of OT-101 in adult patients hospitalized with positive SARS-CoV-2 and pneumonia. As reported on November 23, 2021, the top line data is positive for safety and efficacy.
This transaction allows us to unburden the Company of the high cost of drug development, which the JV will be responsible for, while the Company will participate in its upside through appreciation in the value of its shares in the JV and up to $50MM on the sale of the RPD voucher following marketing approval of OT-101 for DIPG. Dragon Overseas has agreed to invest cash and other assets with a value of approximately $27.6MM for 55% ownership of the JV; and Oncotelic has granted the License to the JV for 45% ownership in the JV.
The fuel needed to drive OT-101 development is robust financing- and the JV provides that. This combination of strong financial backing and strong asset creates a solid foundation for the coming IPO. We believe that the JV IPO will be as successful as other recent IPOs in the TGF-ß space. We believe that there is a substantial upside for the Company due to this JV especially if we are able to have a successful IPO. Your attention is drawn to Litchfield’s analyst, Theodore R. O’Neill’s recent coverage on the Company. (https://www.oncotelic.com/wp-content/uploads/2022/03/OTLC-JV-update.pdf).
In the coming months the team will be transitioning into the JV to ensure continuity of operational excellence. Look for future announcements on clinical trials undertaken by the JV in collaboration with pharmaceutical houses and Key Opinion Leaders “KOLs”. Dr. Anthony Maida, our current CCO, will drive the JV’s clinical development of OT-101 in combination with checkpoint inhibitors including pembrolizumab. Multiple phase 2 clinical trials are intended to be launched with our collaborators. Dr. Maida believes that this Joint Venture provides the resources and financial support for Oncotelic allowing to execute its clinical strategy in multiple solid tumor indications coupled with a robust and thorough bioinformatics assessment leading to upstream targeting, improved clinical responses and insights into agnostic applications.
We appreciate your continued support in our development of cures for orphan and rare diseases. By combining innovative drugs and robust financing we look to transform healthcare one rare disease at a time.
Sincerely yours,
Vuong Trieu and the Oncotelic team
About Oncotelic
Oncotelic (f/k/a Mateon Therapeutics, Inc.), was formed in the State of New York in 1988 as OXiGENE, Inc., was reincorporated in the State of Delaware in 1992, and changed its name to Mateon Therapeutics, Inc. in 2016, and Oncotelic Therapeutics, Inc. in November 2020. Oncotelic is seeking to leverage its deep expertise in oncology drug development to improve treatment outcomes and survival of cancer patients with a special emphasis on rare pediatric cancers. Oncotelic has rare pediatric designation for DIPG (OT-101), melanoma (CA4P), and AML (OXi 4503). Oncotelic also acquired PointR Data Inc. in November 2019.
Additionally, Oncotelic acquired AL-101, during the 4th quarter of 2021, for the intranasal delivery of apomorphine. We intend to develop AL-101 for the treatment of Parkinson Disease (“PD”). Over 60,000 new patients are being diagnosed with PD in the United States and currently there are over 1 million patients in the US and expected to increase to over 1.2 million by 2030. In addition, approximately 10 million suffer from this disease globally. https://www.parkinson.org/Understanding-Parkinsons/Statistics. AL-101 is also being developed for Erectile Dysfunction (“ED”). ED is the most prevalent male sexual disorder globally. The percentages of men affected by ED are as follows: 14.3-70% of men aged ≥60 years, 6.7-48% of men aged ≥70 years, and 38% of men aged ≥80 years (Geerkens MJM et al. (2019). Eur Urol Focus. pii: S2405-4569(19)30079-3). However, with the increasing administration of PDE5 inhibitors in clinical practice, it was found that approximately 30-35% of ED patients are treatment failures (McMahon CN et al. (2006). BMJ, 332: 589-92). AL-101 is designed to target treatment failure ED patients who do not respond to PDE5 inhibitors. Through similar mechanism of action, AL-101 is being developed for Female Sexual Dysfunction (“FSD”). Female sexual dysfunction is a prevalent problem, afflicting approximately 40% of women and there are few treatment options. FSD is more typical as women age and is a progressive and widespread condition. (Allahdadi, KJ et al. (2009) Cardiovascular & hematological agents in medicinal chemistry, 7(4), 260–269). There is no available drug for the treatment of FSD. In June 2019, the U.S. Food and Drug Administration approved Vyleesi (bremelanotide) to treat acquired, generalized hypoactive sexual desire disorder (“HSDD”) in premenopausal women. This is the only available drug treatment. Vyleesi has essentially replaced the only other drug for HSDD – however, it has a long list of drug-drug interactions, including commonly used antidepressants, such as fluoxetine and sertraline. In addition, it has a black box warning regarding its use with alcohol, a combination that has been associated with hypotension and syncopal episodes. Therefore, there is an urgent need for effective therapy against FSD and HSDD.
For more information, please visit www.oncotelic.com
https://www.globenewswire.com/news-release/2022/04/07/2418633/0/en/Letter-to-Oncotelic-Shareholders-on-the-Recently-Completed-Joint-Venture-Transaction-with-Dragon-Overseas-Capital-Limited.html
$URYL Chart looks bottomed..
$PQEFF Bollinger bands in tight squeeze here with price moving sideways in a tight consolidation. .
BARCHART is reporting PQEFF as a “STRONG BUY” based on overall technical indicators.
https://www.barchart.com/stocks/quotes/PQEFF/overview
$PQEFF Bollinger bands in tight squeeze here with price moving sideways in a tight consolidation.
BARCHART is reporting PQEFF as a “STRONG BUY” based on overall technical indicators.
https://www.barchart.com/stocks/quotes/PQEFF/overview
$PQEFF Bollinger bands in tight squeeze here with price moving sideways in a tight consolidation.
BARCHART is reporting PQEFF as a “STRONG BUY” based on overall technical indicators.
https://www.barchart.com/stocks/quotes/PQEFF/overview
Agreed Buy them when they hate them, sell them when they love them..
$URYL all indexes are down today after the Fed minutes.. majority of the stocks are red as well..
$PQEFF: Bull Trend identified by a series of successive higher highs and higher lows
At this moment, PQEFF is trading above 3 key lines of potential support:
50-Day Simple Moving Average
100-Day Simple Moving Average
200-Day Simple Moving Average
As you can see above (chart), higher HIGHS, higher LOWS, A bull trend is identified by a series of rallies where each rally exceeds the highest point of the previous rally. The decline between rallies ends above the lowest point of the previous decline. A series of successive higher highs and higher lows.
RSI just broke above 50 (58.57). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
CCI 95.69 A basic CCI strategy is used to track the CCI for movement above +100, which generates buy signals. When the CCI moves above +100 on your longer-term chart, this indicates an upward trend
BARCHART is reporting PQEFF as a “STRONG BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/PQEFF/overview
According to the OTC Markets, PQEFF has 87M float..
Why a low float is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released a few press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
The more potential support builds up, the more possibility for a vertical move up.
https://www.247pennystocks.com/2022/04/06/pqeff-bull-trend-identified-by-a-series-of-successive-higher-highs-and-higher-lows/
$PQEFF: Bull Trend identified by a series of successive higher highs and higher lows.
At this moment, PQEFF is trading above 3 key lines of potential support:
50-Day Simple Moving Average
100-Day Simple Moving Average
200-Day Simple Moving Average
As you can see above (chart), higher HIGHS, higher LOWS, A bull trend is identified by a series of rallies where each rally exceeds the highest point of the previous rally. The decline between rallies ends above the lowest point of the previous decline. A series of successive higher highs and higher lows.
RSI just broke above 50 (58.57). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
CCI 95.69 A basic CCI strategy is used to track the CCI for movement above +100, which generates buy signals. When the CCI moves above +100 on your longer-term chart, this indicates an upward trend
BARCHART is reporting PQEFF as a “STRONG BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/PQEFF/overview
According to the OTC Markets, PQEFF has 87M float..
Why a low float is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released a few press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
The more potential support builds up, the more possibility for a vertical move up.
https://www.247pennystocks.com/2022/04/06/pqeff-bull-trend-identified-by-a-series-of-successive-higher-highs-and-higher-lows/
$PQEFF: Bull Trend identified by a series of successive higher highs and higher lows.
At this moment, PQEFF is trading above 3 key lines of potential support:
50-Day Simple Moving Average
100-Day Simple Moving Average
200-Day Simple Moving Average
As you can see above (chart), higher HIGHS, higher LOWS, A bull trend is identified by a series of rallies where each rally exceeds the highest point of the previous rally. The decline between rallies ends above the lowest point of the previous decline. A series of successive higher highs and higher lows.
RSI just broke above 50 (58.57). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
CCI 95.69 A basic CCI strategy is used to track the CCI for movement above +100, which generates buy signals. When the CCI moves above +100 on your longer-term chart, this indicates an upward trend
BARCHART is reporting PQEFF as a “STRONG BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/PQEFF/overview
According to the OTC Markets, PQEFF has 87M float..
Why a low float is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released a few press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
The more potential support builds up, the more possibility for a vertical move up.
https://www.247pennystocks.com/2022/04/06/pqeff-bull-trend-identified-by-a-series-of-successive-higher-highs-and-higher-lows/
$WKSP Nice dip to get shares cheap imo..
$PQEFF .37 Another green day, Bullish..
$WKSP $3.44 HOD is on fire!
$URYL Share structure is awesome and very low float of 12 million!
$WKSP looks like $3 break coming..
$PQEFF Nice News out!! Petroteq Announces Updated and Completed Design of 5,000 Barrel per day Oil Sands Extraction Plant
SHERMAN OAKS, CA / ACCESSWIRE / April 5, 2022 / Petroteq Energy Inc. ("Petroteq" or the "Company") ??(TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), an oil company focused on the development and ?implementation of its proprietary oil-extraction and remediation technologies, announces that Valkor, LLC ("Valkor"), has updated and completed the design for the planned 5,000 BPD day extraction plant.
Valkor signed a Technology License Agreement with Petroteq on July 1, 2019, and has been operating at the plant in Vernal, Utah under a Service Master Agreement signed on November 1, 2018. Valkor is fully cognizant of the engineering and technical aspects needed for the process to have this update done to incorporate all additional data into the original FEED (front end engineering and design).
Petroteq's management believes that an updated FEED design is unique to the patented Petroteq technology permitting a highly effective oil extraction process from oil-sands in an eco-friendly method and can be seen as a true green energy technology.
Following the FEED, Valkor conducted various additional design studies to prepare the final engineering plans. A primary part of this was a design study with M-I SWACO, a Schlumberger company, for the backend processes for sand separation and drying. The system is a conventional sand dryer modified for service with petrochemical solvents in a closed loop. A combined unit has been proposed as a turnkey system to handle as much as 8,000 tons of sand per day with a target of EPA Tier 1 quality for the resulting sand. Design performance, budget and schedule have been determined. M-I SWACO did a full 3D model of the design, as shown in the photograph below.
Description automatically generated
Other studies were conducted on optimizing an ore mixing and decanting system. Valkor advises that it is ready to implement a 5,000 BOD plant design. All necessary equipment has been verified as available on the market on lead times that result in an 18-month build. Petroteq's management is confident the updated plant design is of the highest technical quality and will exhibit superior operating performance.
Vladimir Podlipsky, Petroteq's CEO and CTO has commented, "Our advances in engineering work exemplify our intentions to continue to operate the Company toward future expansion and revenue growth, regardless of the on-going offer from Viston United Swiss AG. Management will continue to handle business as usual and make utmost efforts to enhance shareholder value."
The tender offer (the "Offer") by 869889 Ontario Inc. (the "Offeror"), an indirect wholly-owned subsidiary ?of Viston United Swiss AG?, to purchase all of the issued and outstanding common shares of ?Petroteq, remains open for acceptance until 5:00 p.m. (Toronto time) on April 14, 2022, ?unless the Offer is further extended, accelerated or withdrawn by the Offeror in accordance with its ?terms.?
About Petroteq Energy Inc.?
Petroteq 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. The versatile technology can be ?applied to both water-wet ?deposits and oil-wet deposits - outputting high-quality oil and clean sand.?
Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of ?oil sands ?at Asphalt Ridge without requiring the use of water, and therefore without generating ?wastewater which would ?otherwise require the use of other treatment or disposal facilities which ?could be harmful to the environment. ?Petroteq's process is intended to be a more environmentally ?friendly extraction technology that leaves clean ?residual sand that can be sold or returned to the ?environment, without the use of tailings ponds or further ?remediation.?
For more information, visit www.Petroteq.energy.?
Unless otherwise specified, all dollar amounts in this press release are expressed in U.S. dollars.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies ?of the TSX ?Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.?
https://www.accesswire.com/696070/petroteq-announces-updated-and-completed-design-of-5000-barrel-per-day-oil-sands-extraction-plant