 SHERMAN OAKS, CA ACCESSWIRE July 1, 2021 Petroteq Energy Inc. Petroteq or the Company TSXV:PQEOTC PINK:PQEFFFSE:PQCF, an integrated 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 arms length lenders pursuant to which the Company will issue an aggregate of 2,333,176 common shares of the Company at a deemed price of US0.094 per share in satisfaction of US219,318.33, representing certain accrued and unpaid interest under previously issued convertible debentures. In addition, the Company intends to complete debt conversion transactions with its four directors, and one former director, pursuant to which it will issue an aggregate of 862,456 common shares at a deemed price of US0.094 per share in satisfaction of US81,071.30 of accrued and unpaid director fees owed to such directors to June 30, 2021. 