Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, this morning announced that its board of directors has appointed David Sealock as its new chief executive officer. Per the update, Alex Blyumkin will continue to serve as chairman of the company’s board of directors. “We believe David’s aptitude and capabilities will allow us to take Petroteq to the next level as we make significant progress in our Utah facilities and also move forward on building our PetroBloq consortium,” Blyumkin stated in the news release. “He is a well-rounded leader that has been known for initiating innovative technologies for cost efficiencies and has successfully completed a US$150M equity financing and US$200 million debt financing under his stewardship while he was President and CEO with Sunshine Oilsands. He is an executive that understands the depths of corporate governance and the regulatory policies and procedures in running a publicly traded company. As a technical professional, he has led large-scale transformation efforts within complex organizations to establish a clear line of sight to revenue growth goals and we believe he is the right person to lead the Company into the next stage of growth.”
To view the full press release, visit http://ibn.fm/YjWyt
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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 www.PetroBLOQ.com
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