Los Angeles, CA -- December 04, 2017 -- InvestorsHub NewsWire
-- PetroBLOQ today announces that it has
become the latest member to join the Enterprise Ethereum Alliance (EEA), the world’s
largest open-source blockchain initiative. PetroBLOQ’s novel
blockchain-based oil and gas supply chain management platform is
being co-developed by Petroteq Energy, Inc. (TSX VENTURE: PQE; OTCQX: PQEFF; FRANKFURT: A2DYWC) and First
Bitcoin Capital Corp. (OTC: BITCF).
EEA’s membership represents a wide variety of business sectors
from every region of the world, including technology, banking,
government, healthcare, energy, pharmaceuticals, marketing, and
insurance, as well as a number of fast-growing Ethereum startups.
EEA offers 14 industry-focused, member-driven Working Groups,
including Quorum, Communications Protocol, Integration and Tools,
Standards and Marketing and Communications.
“We are very pleased to be part of the 200-member Enterprise
Ethereum Alliance,” said Alex Blyumkin, CEO of Petroteq Energy.
“Joining this community of forward-looking enterprises and
blockchain innovators is an important step for PetroBLOQ as we
develop transformative solutions for the oil and gas industry.”
“PetroBLOQ is a welcome addition to our growing community of
diverse global industry experts,” said Julio Faura, chairman of the
board of EEA. “We seek to attract a variety of organizations to
help create enterprise-grade standards for Ethereum and to drive
current and future development of the ecosystem to benefit all
participants.”
Petroteq will be presenting at the 10th annual LD Micro Main Event on Wednesday, December
6th at 12:00 PM PST / 3:00 PM EST at the Luxe Sunset Boulevard
Hotel in Los Angeles, California. Petroteq's President Dr. R.
Gerald ("Jerry") Bailey will be presenting and meeting with
investors.
About PetroBLOQ
PetroBLOQ is a collaboration formed by Petroteq Energy, Inc. and
First Bitcoin Capital Corp. to develop the first supply chain
management platform based on advanced blockchain technology for the
global transaction needs of the oil and gas industry.
About Petroteq Energy, Inc.
The Company is engaged in the development and implementation of
its proprietary environmentally friendly heavy oil processing and
extraction technologies. The proprietary process produces zero
greenhouse gas, zero waste and requires no high temperatures. The
Company is currently focused on developing its oil sands resources
and expanding production capacity at its Facility at Asphalt Ridge,
Utah. The Company also (i) owns a minority stake in an exploration
and production play located in southwest Texas held by Accord GR
Energy Inc., (ii) has a joint venture with Recruiter.com and
Oilprice.com that provides internet based job placement and career
services to the increasingly skilled and specialized energy sector,
and (iii) is developing an advanced blockchain solution for the
energy industry, in a project called PetroBloq, with a goal of
optimizing petrochemical industry workflow processes.
For more about Petroteq Energy Inc. visit: https://petroteq.energy/.
For more on the joint venture with Recruiter.com and
Oilprice.com visit: https://jobs.oilprice.com/.
For more on Petrobloq visit: https://petrobloq.com/.
About First Bitcoin Capital Corp.
First Bitcoin Capital is engaged in developing digital
currencies, proprietary blockchain technologies, and the digital
currency exchange -- www.CoinQX.com (in beta). We see this step
as a tremendous opportunity to create further shareholder value by
leveraging management's experience in developing and managing
complex blockchain technologies and in developing new types of
digital assets. Being the first publicly-traded cryptocurrency and
blockchain-centered company, we want to provide our shareholders
with diversified exposure to digital cryptocurrencies and
blockchain technologies. For more information visit www.BitcoinCapitalCorp.com.
About Ethereum Enterprise Alliance
The Ethereum Enterprise Alliance (EEA) is an industry-supported,
not-for-profit established to build, promote, and broadly support
Ethereum-based technology best practices, open standards, and
open-source reference architectures. Formed earlier this year, the
EEA is helping to evolve Ethereum into an enterprise-grade
technology, providing research and development in a range of areas,
including privacy, confidentiality, scalability, and security. The
EEA is also investigating hybrid architectures that span both
permissioned and public Ethereum networks as well as
industry-specific application layer working groups. For more
information visit www.entethalliance.org.
Forward-Looking Statements
Certain statements contained in this press release contain
forward-looking statements within the meaning of the U.S. and
Canadian securities laws. Words such as "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions as they relate to the Company, including TSX Venture
Exchange approval of the issuance of shares, are intended to
identify forward-looking information. All statements other than
statements of historical fact may be forward-looking information.
Such statements reflect the Company's current views and intentions
with respect to future events, based on information available to
the Company, and are subject to certain risks, uncertainties and
assumptions. Material factors or assumptions were applied in
providing forward-looking information. While forward-looking
statements are based on data, assumptions and analyses that the
Company believes are reasonable under the circumstances, whether
actual results, performance or developments will meet the Company's
expectations and predictions depend on a number of risks and
uncertainties that could cause the actual results, performance and
financial condition of the Company to differ materially from its
expectations.
Certain of the "risk factors" that could cause actual results to
differ materially from the Company's forward-looking statements in
this press release include, without limitation: the TSX Venture
Exchange not approving the issuance of shares; changes in laws or
regulations; the ability to implement business strategies or to
pursue business opportunities, whether for economic or other
reasons; status of the world oil markets, oil prices and price
volatility; and oil pricing; state of capital markets and ability
by the Company to raise capital; litigation; the commercial and
economic viability of the Company's oil sands hydrocarbon
extraction technology, the SWEPT technology, the S-BRPT technology,
and other proprietary technologies developed or licensed by the
Company or by Accord which are of experimental nature and have not
been used at full capacity for an extended period of time; reliance
on suppliers, contractors, consultants and key personnel; the
ability of the Company and Accord to maintain their respective
mineral lease holdings; potential failure of the Company's business
plans or model; the nature of oil and gas production and oil sands
mining, extraction and production; uncertainties in exploration and
drilling for oil, gas and other hydrocarbon-bearing substances;
unanticipated costs and expenses, availability of financing and
other capital; potential damage to or destruction of property, loss
of life, and environmental damage; risks associated with compliance
with environmental protection laws and regulations; uninsurable or
uninsured risks; potential conflicts of interest of officers and
directors; and other general economic, market and business
conditions and factors, including the risk factors discussed or
referred to in the Company's annual Management's Discussion and
Analysis for the year ending August 31, 2016, filed with the
securities regulatory authorities in certain provinces of Canada
and available at www.sedar.com.
Should any factor affect the Company in an unexpected manner, or
should assumptions underlying the forward-looking information prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and the Company undertakes no obligation to publicly update
or revise any forward-looking information, other than as required
by applicable law.
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.
The securities referred to in this news release have not been,
nor will they be, registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S.
registration requirements. This news release does not constitute an
offer for sale of securities, nor a solicitation for offers to buy
any securities. Any public offering of securities in the United
States must be made by means of a prospectus containing detailed
information about the company and management, as well as financial
statements.
Contact:Petroteq Energy, Inc.Alex BlyumkinChief Executive Officer 800.979.1897 Communications Contact:NetworkNewsWire (NNW)New York, New York www.NetworkNewsWire.com 212.418.1217 Office Email Contact
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