Petroteq and ROC Monthly Report

SHERMAN OAKS, June 15, 2022 - Petroteq Energy Inc. ("Petroteq" or the "Company") ‎‎(TSXV:PQE)(OTC PINK:PQEFF)(FSE:PQCF), ‎an oil company focused on the development and ‎implementation of its proprietary oil sands extraction and remediation technologies, announced today that as per the Company's announcement dated May 24, 2022 introducing the appointment of ‎the founding members of the Company's Regulatory Oversight Advisory Committee ‎‎("ROC") and its mandate, the Company and the ROC hereby report that all transactions ‎put forth before the ROC during the month of May have been reviewed by its members ‎and all necessary filings with the TSX Venture Exchange ("TSXV") have been made and ‎in ROC's view the filings made are in compliance with TSXV policies. ROC has confirmed ‎via internal control procedures including due inquiry, that all matters that should have ‎been presented to ROC have been.

The Company also announces that it has struck a board subcommittee the mandate of ‎which is to carry out the CEO search. Members include independent board members, ‎management and consultants. The Company will continue to provide updates on the ‎committee's progress towards this important mandate.‎

About Petroteq Energy Inc.‎

Petroteq is a clean technology company focused on the development, implementation and licensing of a ‎patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and ‎bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet ‎deposits and oil-wet deposits - outputting high-quality oil and clean sand.‎

Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands ‎at Asphalt Ridge without requiring the use of water, and therefore without generating wastewater which would ‎otherwise require the use of other treatment or disposal facilities which could be harmful to the environment. ‎Petroteq's process is intended to be a more environmentally friendly extraction technology that leaves clean ‎residual sand that can be sold or returned to the environment, without the use of tailings ponds or further ‎remediation.‎ For more information, visit www.petroteq.energy.‎‎

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX ‎Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.‎

CONTACT INFORMATION

Petroteq Energy Inc.‎
Vladimir Podlipskiy
Interim Chief Executive Officer
Tel: (800) 979-1897‎

SOURCE: Petroteq Energy Inc.