Mr. Alex Blyumkin reports

PETROTEQ ENERGY SUBMITS APPLICATION FOR NASDAQ CAPITAL MARKET UP-LISTING

Petroteq Energy Inc. has submitted its formal application to list the company's common stock in the United States 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 chief executive officer 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 the company's 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 No. A2DYWC).

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. Its proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures.

We seek Safe Harbor.