ROSEVILLE, Calif., April 04, 2019 (GLOBE NEWSWIRE) -- Momentum Asset Partners I, LLC ‎(the “Company”) has filed an early warning report (the “Report”) announcing the acquired 15,000,000 common shares (“Shares”) of Petroteq Energy Inc‎. (the “Issuer”) in partial consideration of the purchase price payable by the Issuer pursuant to an Assignment & Transfer of Federal Oil & Gas Leases and Bill of Sale ‎dated January 29, ‎‎2019 between the Company and the Issuer (the ‎‎“Assignment”). The Shares represent 11.9% of the currently issued and outstanding common shares of the Issuer.

Immediately before the issuance of shares pursuant to the Assignment, the Company owned or controlled, ‎directly or indirectly, no securities of the Issuer.‎ Immediately after the issuance of shares pursuant to the Assignment, the Company’s security holding ‎number and percentage in the common shares of the Issuer was 15,000,000 common ‎shares representing 11.9% of all of the issued and outstanding common shares of the Issuer on a non-diluted basis.‎

The common shares were acquired for investment purposes. The Company may increase or reduce its investment in the Issuer according to market conditions or other relevant factors.

For further details relating to the acquisition, please see the Report, which was filed in accordance with applicable securities laws, a copy of which is available under the Issuer’s profile on the SEDAR website at www.sedar.com, or may be obtained from Robert Markarian, momentumassetp@gmail.com, (818) 731-1990.