Petroteq Energy Inc (PQEFF)

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SHERMAN OAKS, CA / ACCESSWIRE / November 27, 2021 / 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 its intention to complete debt conversion transactions with two arm's ?length creditors pursuant to ?which the Company will issue an aggregate of 4,529,166 common shares of ?the Company at a deemed price of ?US$0.119 per share in satisfaction of US$538,971. The Company (with the creditors' consent) determined to satisfy the ?indebtedness with common shares to ??preserve the ?Company's cash for use on its extraction technology in ?Asphalt Ridge, Utah, and for working ?capital.?