Petroteq partners with Cavitation Technologies Inc. to test unconventional oil production equipment

Studio City, CA (GLOBE NEWSWIRE) – Petroteq Energy Inc. (TSXV: PQE) (OTC: PQEFF) (FSE: A2DYWC) ("Petroteq" or the "Licensee" ), a company focused on the development and implementation of proprietary technologies for the energy industry, announced an agreement with Cavitation Technologies, Inc. (OTCQB: CVAT) (Berlin: WDC) (" CTi "or the" Licensor "), a highly scalable company. and cost effective solutions for various fluid processing industries. The companies have entered into a licensing agreement to test its equipment during oil production in order to improve the efficiency of the production flow and reduce the production costs achieved through the oil sands extraction process. Petroteq.

The agreement between Petroteq and CTi will look for conventional oil, in the form of bitumen, obtained from the oil sands. CTi's Nano Reactor System ™ uses patented technology that can influence and modify the chemical and physical composition of certain crude oils and hydrocarbons to improve the performance and economic value of refined or processed oils and hydrocarbon products. related. [19659003"NoussommesravisdecollaboreravecCTiAvecnotresiterécemmentrénovénoubadploronsmaintenantdesopportunitéspourrendrenosproduitsplusrentablesetplusefficacesNouspensonsqu'ilestimportantdes'engagersurl'innovationdenotreR&Davecd'autrestechnologiesconvaincantesquiontlepotentieldegénérerdessolutionsévolutivesauseindel'industry"acommentéDavidSealockPDGdePetroteq

The CTO Roman Gordon, said: "During the past decade. We have introduced our proprietary technology into a number of different verticals while building partnerships with industry leaders.This agreement gives our companies the opportunity to develop and implement technologically advanced processes that will improve significantly more efficiency compared to conventional methods while increasing margins and profitability. "

CT Nano Reactor System ™ i will combine the bitumen extracted by Petroteq with a fluidic crude oil catalyst. Fluidic crude oil is pumped through a cavitation device at varying pressures to create cavitation characteristics. Reacting with fluidic crude oil, the process generates cavitation bubbles, which mix with adjacent layers of condensed fluidic crude oil. This mixture induces chemical reactions between the components of the fluidic crude oil to promote molecular rearrangement to improve viscosity, API gravity and heterogeneity.

About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company. on the development and implementation of a new proprietary technology for the extraction of oil. The company has environmentally friendly and sustainable technology for extracting heavy oils from tar sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally sound heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gases, zero waste and requires no elevated temperature. Petroteq is currently focusing on the development of its oil sands resources and expanding the production capacity of its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The Company also owns a minority interest in an exploration and production facility located in South West Texas owned by Accord GR Energy Inc. In addition, the Company, through its wholly-owned subsidiary, exclusive PetroBLOQ LLC, seeks to develop the first blockchain platform created exclusively for the needs of the oil and gas supply chain. For more information, visit www.Petroteq.energy and PetroBLOQ.com

About CTi
Founded in 2007, the company designs and manufactures continuous flow devices and systems at the forefront of technology. It also develops processing technologies for the refining of edible oils, the production of renewable fuels, the accelerated recovery of oil, the extraction of algal oils, the improvement of alcoholic beverages, the treatment of water and emulsification of cannabidiol (CBD). In addition to its existing neutralization systems, the patented Nano Reactor ™ system allows refiners to significantly reduce treatment costs and environmental impact, while increasing efficiency. http://www.ctinanotech.com/

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Petroteq Forward-Looking Statements
Certain statements in this press release contain forward-looking statements within the meaning of US and Canadian securities laws. Words such as "could," "could," "could," "should," "potential," "will," "seek," "intend," "plan," "anticipate," "Believe," "estimate," "expect," and expressions similar to those of the company, including the company that is successfully developing blockchain technology for the oil and gas industry , continue to hire strategic employees and add more companies to its list of partners. look at the information. All statements other than statements of historical fact may constitute forward-looking information. These statements reflect the Company's current views and intentions regarding future events, based on information available to the Company, and are subject to certain risks, uncertainties and badumptions. Significant factors or badumptions have been used to provide forward-looking information, including: the successful implementation of CTi's Nano Reactor System ™ during the pilot testing period and in the future in the future. The company's Asphalt Ridge plant and its ability to reduce the cost of production, modify the unconventional oil positively produces and improve yield and economic value. Although forward-looking statements are based on data, badumptions and badyzes that are believed to be reasonable in the circumstances, and actual results, performance or developments meet the expectations and expectations of the Company, they are dependent upon a number of factors. risks and uncertainties. the results, performance and financial position of the Company differ significantly from its expectations. Some of the "risk factors" that could materially defer actual results from the Company's forward-looking statements in this press release include, but are not limited to: PetroBLOQ does not have the expertise and / or funds needed to develop and implement an offer based on blockchain chain management system; PetroBLOQ not being able to develop blockchain technology or other applications until the end; blockchain technology is not adopted by the oil and gas industry; changes in laws or regulations; the ability to implement business strategies or pursue business opportunities, whether for economic or other reasons; state of world oil markets, oil prices and price volatility; oil pricing; state of financial markets and the ability of the Company to raise capital; litigation; the commercial and economic viability of the Company's oil sands hydrocarbon extraction technology, SWEPT technology, S-BRPT technology and other proprietary technologies developed or licensed by the Company or Accord, which are of an experimental nature and that have not been fully utilized capacity for an extended period of time; dependence on suppliers, contractors, consultants and key personnel; the ability of the company and Accord to maintain their respective holdings in mining concessions; potential failure of the company's business plans or model; the nature of oil and gas production and operation, extraction and production of oil sands; uncertainties in the exploration and drilling of oil, gas and other substances containing hydrocarbons; unforeseen costs and expenses, availability of financing and other capital; potential damage or destruction of property, loss of life and environmental damage; risks badociated with compliance with laws and regulations on environmental protection; uninsurable or uninsured risks; potential conflicts of interest of officers and directors; and other general economic, business and commercial conditions and factors, including the risk factors referred to or referred to in the Company's disclosure documents, filed with the securities regulatory authorities in certain provinces from Canada and available at www.sedar.com.

any factors that have an unexpected effect on the Company, or if the badumptions underlying the forward-looking information were incorrect, actual results or events could differ materially from the results or events anticipated. Any forward-looking information is expressly qualified in its entirety by this warning. In addition, the Company badumes no responsibility for the accuracy or completeness of this forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, except as permitted by applicable law. # 39; required.

The TSX Venture Exchange and its settlement services provider (as that term is defined in the policies of the TSX Venture Exchange) badume responsibility for the veracity or accuracy of this release.

Forward-Looking Statements CTi
This version contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, 1995. In certain cases, forward-looking statements may be identified by terms such as "may", "should", "potential", "continue", "expects to", "" provides, "provides", "anticipates "," believes "," estimates ", and similar expressions, and includes statements regarding the expected substantial income expected to be generated in the future of the relationship with ABI, including the possibility of providing a meaningful return to shareholders through the substantial equity position and payments that CTi will retain in ABI and the value of the business opportunity. These forward-looking statements are largely based on CTi's expectations and are subject to a number of risks and uncertainties, some of which are beyond the control of CTi, including CTi's ability to generate revenue from this news. opportunity. Actual results could differ materially from these forward-looking statements due to a variety of factors, including the state of the economy, the competitive environment and our ability to perform the installation. as expected and other factors described in our most recent form. 10-K and our other filings with the SEC, including subsequent periodic reports on forms 10-Q and 8-K. In light of these risks and uncertainties, there can be no badurance that the forward-looking statements contained in this press release will prove or will prove to be accurate. The information contained in this press release is provided only as of the date of this press release and we disclaim any obligation to update the forward-looking statements contained in this release as a result of new information, future events or events. others except as required by law.

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