Studio City, California–(Newsfile Corp. – July 12, 2018) – Petroteq Energy Inc. (TSXV: PQE) (OTC Pink: PQEFF) (FSE: PQCF) (“Petroteq” or the “Company”), a company focused on the development and implementation of proprietary technologies for the energy industry, has submitted its formal application to list the Company’s common stock in the U.S. on the NASDAQ Capital Market.

“We believe up-listing in the U.S. from the OTC Market to the NASDAQ Capital Market will increase awareness of Petroteq in the financial community,” said David Sealock, the CEO of Petroteq. “We believe that a NASDAQ listing will help unlock some of the shareholder value we are trying to create for our stakeholders. A NASDAQ listing should provide us with more liquidity and a larger pool of investors that use the NASDAQ Stock Market as a requirement for assembling a portfolio.”

“Being in a position to list our common stock on the NASDAQ Capital Market reflects significant progress that we have made in building our financial and liquidity standards, strengthening our corporate governance, and positioning the Company for future growth and profitability,” continued Mr. Sealock.

Acceptance for listing Company shares is subject to approval, in part, based on the Company’s ability to meet minimum listing requirements for the NASDAQ Capital Market. While the Company intends to satisfy all of the applicable listing criteria, no assurance can be given that its application will be approved. During the NASDAQ review process, the Company’s common stock will continue to trade in the U.S. on the OTC under its current symbol, PQEFF; in Canada on the TSX Venture Exchange under its symbol PQE; and in certain German markets in Frankfurt, Munich and Berlin under the symbol PQCF (WKN # A2DYWC).

About the NASDAQ

The NASDAQ Stock Market is global electronic marketplace for buying and selling securities. It was created by the National Association of Securities Dealers (“NASD”) to enable investors to trade securities on a computerized, speedy and transparent system. For more about the NASDAQ, go to www.nasdaq.com.

About Petroteq Energy Inc.

Petroteq is a fully integrated oil and gas company focused on the development and implementation of a new proprietary technology for oil extraction. The Company has an environmentally safe and sustainable technology for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented 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. In addition, the Company, through its wholly owned subsidiary PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit www.Petroteq.energy and PetroBLOQ.com.