Petroteq Energy Inc (PQEFF)

[NetworkNewsWire]

PQEFF CEO Releases Letter to Shareholders

Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of environmentally friendly heavy oil processing and extraction technologies, this morning announced the release of a year-end letter to shareholders from chairman and CEO Aleksandr Blyumkin. In the letter, Blyumkin gives a brief history of Petroteq, detailing its evolution from a fuel delivery company to a disruptive player in the energy technology market. He also discusses Petroteq’s recent moves to implement blockchain technology in the energy industry. “[W]e have identified an aspect of the energy industry where [we] believe we can have further impact. It was [President Jerry Bailey’s] experience as head of Exxon in the Middle East that really confirmed the opportunity for bringing the blockchain to the Energy Industry,” Blyumkin stated in the news release. “Through our recently created PetroBloq subsidiary, and a working relationship with First Bitcoin Capital we intend to help reduce the massive administrative costs in the Energy Industry, as a developer and service provider of Blockchain enabled technology products.”

To view the full press release, visit http://nnw.fm/iUip1

About Petroteq Energy Inc.

The Company is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. Under a joint venture agreement with Recruiter.com and Oilprice.com, we anticipate that the website offering employment opportunities in the Energy sector will be launched in the month of November 2017. Petroteq is also developing technologies to optimize petrochemical industry workflow processes and will bring a team of professionals to expedite the process. For more information, visit www.PetroteqEnergy.com