Petroteq Energy Inc (PQEFF)

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BAD BAD NEWS.....It was a press release issued by PQEFF yesterday and stating that it was barely able to raise only $182,754 at $0.596/share....

completely underscoring that PQEFF is running out of cash and the Deloro Energy 2nd tranche loan to PQEFF, which was due Feb 28th and defaulted on, never was loaned to PQEFF. It was contingent on PQEFF having a operating extraction plant..which appears to not have happened as of yesterday

This is a very very bad sign for PQEFF stockholders


https://ir.petroteq.energy/press-releases/detail/262


"PETROTEQ ENERGY ANNOUNCES PROPOSED ISSUANCE OF SECURITIES
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

RELATED LINKS
PDF Release PDF
Studio City, Calif., May 07, 2018 (GLOBE NEWSWIRE) -- Petroteq Energy Inc. (the “Company”) (TSXV:PQE) (OTC:PQEFF) (Frankfurt:PQCF), announces it has received irrevocable subscriptions from five arm’s length party’s for an aggregate of 306,460 common shares for gross proceeds of an aggregate US$182,754. All shares issued pursuant to the financing will be subject to a four-month hold period. The net proceeds will be used by the Company for general corporate purposes and working capital. Closing of the financings are subject to receipt of subscription proceeds, as well as the approval of the directors of the Company and of the TSX Venture Exchange."