22 May 2023listing compliance notice▼ BadMajor
PETROTEQ ENERGY INC. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Jan 2023director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 300,000 shares on the open market at $0.01.
26 Sept 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 1,170,731 shares on the open market at $0.20.
30 Aug 2022business combination▼ BadMajor
Petroteq's twelfth amendment to its response says Viston's offeror withdrew the offer, which had been due to expire on September 9, 2022. Tendered shares will be returned by Kingsdale as soon as practicable. The filing adds Petroteq's August 29, 2022 news release as an exhibit and confirms Petroteq's side of the withdrawal.
29 Aug 2022business combination▼ BadMajor
Viston's fifteenth amendment says the Cdn$0.74 cash offer was terminated on August 28, 2022 and no shares were bought. The offeror has told the depositary to return all tendered shares to shareholders. The press release says Viston withdrew after the CFIUS rejection, concluding that several conditions could not be satisfied by the September 9, 2022 expiry. This ends the takeover bid that ran since October 2021 and the clearance, extension and letter-agreement threads. Shareholders keep their shares and receive no offer payment.
26 Aug 2022business combination▼ BadMajor
Petroteq's eleventh amendment to its response to the Viston offer only adds its August 25, 2022 news release, which announces that CFIUS has rejected the joint notice for the pending offer. This is Petroteq's side of the rejection Viston reported on August 24. The filing contains nothing else.
26 Aug 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 12,682,925 shares on the open market at $0.20.
25 Aug 2022business combination▼ BadMajor
Viston's fourteenth amendment adds an August 24, 2022 press release. The release says the US Treasury told Viston and its offeror that CFIUS has rejected the joint voluntary notice filed with Petroteq on May 16, 2022. This is the foreign-investment clearance that the Cdn$0.74 offer required, and it ends the 45-day review and investigation reported in July. The filing itself says nothing more about what happens to the offer.
23 Aug 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 150,000 shares on the open market at $0.22.
4 Aug 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 250,000 shares on the open market at $0.14.
3 Aug 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 500,000 shares on the open market at $0.13.
2 Aug 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 400,000 shares on the open market at $0.14.
1 Aug 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 700,000 shares on the open market at $0.14.
28 July 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 2,666,666 shares on the open market at $0.12.
22 July 2022business combination● Neutral
Viston's thirteenth amendment adds a Fifth Notice of Extension dated July 22, 2022 to the Cdn$0.74 cash offer, a July 22 press release, and amended and restated versions (dated July 21, 2022) of its two financing amendments with Uniexpress. It also adds a form of irrevocable undertaking and release between the offeror and each Petroteq director. The visible text is cut off before the new expiry date, conditions or any terms of these documents. Later filings show a September 9, 2022 expiry. The offer remains not completed.
11 July 2022business combination● Neutral
Petroteq's tenth amendment to its response to the Viston offer files the July 5, 2022 letter agreement with Viston and its offeror, and a Petroteq news release dated July 6, 2022. This is Petroteq's side of the agreement reported in Viston's filing of July 6. The terms are not in the text shown here, and the release's contents are not shown.
8 July 2022business combination● NeutralMajor
Viston's twelfth amendment adds a July 8, 2022 press release saying the US Treasury notified Viston that the foreign-investment review body (CFIUS) is undertaking a 45-day investigation of the proposed acquisition. The visible text recaps the earlier declaration of January 6, the February 24 inability to clear it, and the notice filed jointly with Petroteq, but it is cut off before the investigation's dates. Clearance is a condition of the Cdn$0.74 offer, so the offer is not yet completed. The earlier-reported review end date of no later than July 7 has passed, and this release describes a further investigation period (the reason for the change is not in the visible text).
6 July 2022business combination● NeutralMajor
Viston's eleventh amendment reports a July 5, 2022 letter agreement between Viston, its offeror and Petroteq. While the offer is outstanding and the board's recommendation is unchanged, Petroteq agreed not to issue shares under the 2022 Equity Incentive Plan or carry out the share consolidation (if shareholders approve them at the meeting) without Viston's written consent. It must also involve Viston in hiring a new CEO and get Viston's consent before hiring one, and not give any employee change-of-control or severance terms without Viston's consent. A new CEO's contract must have no such payments and must require the CEO to resign if Viston asks after the offer completes. The list of commitments is cut off in the text, so further terms are not known. The filing also notes a June 29, 2022 second amendment to Viston's Uniexpress financing agreement, whose terms are not shown. This gives Viston more say over Petroteq's decisions while the Cdn$0.74 offer is pending, and builds on the CEO search and the Viston consultation promise reported earlier.
6 July 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 50,000 shares on the open market at $0.19.
29 June 2022business combination● Neutral
Petroteq filed its ninth amendment to its response to the Viston offer only to add a news release dated June 28, 2022 as an exhibit. The release's contents are not in this filing, and nothing else changed.
27 June 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 60,000 shares on the open market at $0.18.
24 June 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 70,000 shares on the open market at $0.02.
22 June 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 551,000 shares on the open market at $0.17.
22 June 2022business combination● Neutral
Petroteq filed its eighth amendment to its response to the Viston offer only to add a news release dated June 22, 2022 as an exhibit. The release's contents are not in this filing, and nothing else changed.
17 June 2022business combination● NeutralMajor
Viston's tenth amendment adds a Fourth Notice of Variation and Extension dated June 17, 2022, which further varies the Cdn$0.74 cash offer, adds new conditions and extends its expiry. The visible text is cut off before the new expiry date or the new conditions, so those are not known from this filing. It also adds a June 17 press release and a June 16, 2022 amendment to Viston's financing agreement with Uniexpress, whose terms are not shown. This follows Viston's earlier statement that it intended to extend past July 7 and to vary the capitalization condition (the new conditions may relate to that, an inference). The offer remains not completed.
16 June 2022securities registration● Neutral
PETROTEQ ENERGY INC. filed notice of an exempt private placement.
14 June 2022business combination● Neutral
Petroteq filed its seventh amendment to its response to the Viston offer only to add a news release dated June 14, 2022 as an exhibit. The release's contents are not in this filing, and nothing else changed.
13 June 2022director interest notice● Neutral
PETROTEQ ENERGY INC. 10%+ owner Anthony J Cantone bought 519,600 shares on the open market.
10 June 2022business combination● Neutral
Petroteq filed its sixth amendment to its response to the Viston offer only to add a news release dated June 10, 2022 as an exhibit. The release's contents are not in this filing, and nothing else changed.
10 June 2022business combination● NeutralMajor
Viston's ninth amendment adds a June 10, 2022 press release. It says Petroteq has a shareholder meeting set for July 21, 2022, trading resumed on the TSX Venture Exchange on May 27, 2022 (ending the halt in place since the August 2021 cease trade order, as the release describes it), a new CEO search was announced May 24, and a private placement of units for up to US$2.5 million was announced June 2. Petroteq told Viston it still supports the offer, directors' and management's shares remain tendered, and it will consult Viston on meeting business and the CEO search. Petroteq also said it needs cash for operations and will offer Viston first chance at any future financing. Viston says it intends to vary the 'No Change in Capitalization' condition; the full terms are cut off in the visible text. All of this is per Viston's release.