PQEFF - US committee on foreign investment probes Viston United Swiss's acquisition of Petroteq Energy

• The Committee on Foreign Investment in the United States, or CFIUS, has undertaken an investigation of Viston United Swiss unit Ontario's all-cash offer to acquire Petroteq Energy ( OTCPK:PQEFF ).
• Petroteq, Viston and Ontario had entered into a letter agreement as of Jul. 5 relating to a pending offer by Ontario to purchase all of the outstanding common shares of Petroteq.
• According to the key terms and conditions of the offer, PQEFF shareholders will receive C$0.74 per share in cash. The offer is open for acceptance until Jul. 22 5:00 pm.
• The investigation would be completed no later than Aug. 22, but Viston intends to extend the offer to a date after Aug. 22, in order to allow additional time for the satisfaction of all of the conditions to the offer.

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