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April 19, 2022, 9:58 a.m. EDT

CEOs and Corporations Pledging Millions in Support for Ukrainian Humanitarian Efforts

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Apr 19, 2022 (Baystreet.ca via COMTEX) -- USA News Group – According to the United Nations, more than 10 million people are believed to have fled their homes in Ukraine because of the ongoing conflict. Beyond 4.3 million have already left for neighboring countries, while an additional 6.5 million are still believed to be displaced within Ukraine itself. Coming to their aid, global governments and their leaders recently helped organize the Stand Up for Ukraine event, which raising more than $10 billion in new grants and loans. On top of the governmental aid, the corporate landscape has also shown its generosity in the efforts to aid Ukraine, including donations either corporately or from individual executives from companies such as Petroteq Energy, Inc. /zigman2/quotes/208122736/delayed PQEFF -2.86% , Airbnb, Inc. /zigman2/quotes/222990650/composite ABNB -1.52% , Alphabet Inc. /zigman2/quotes/205453964/composite GOOG -1.98% /zigman2/quotes/202490156/lastsale GOOGL -1.82% , Civitas Resources, Inc. /zigman2/quotes/204933876/composite CIVI -0.17% , and Pfizer Inc. /zigman2/quotes/202877789/composite PFE -0.91% .

After having already played a significant role in developing a more environmentally-friendly process for producing oil with his company’s Clean Oil Recovery Technology (CORT) , founder and former CEO of Petroteq Energy, Inc. /zigman2/quotes/208122736/delayed PQEFF -2.86% , Alex Blyumkin has just announced his intention to donate half of his potential personal proceeds from an ongoing takeover by Viston United Swiss AG.

"Being a native of Ukraine, born in Odessa, and now a U.S. citizen, I have a sincere desire to help the people of Ukraine in this hour of sadness and sorrow as they experience the horrors of war,” said Blyumkin. “I have spoken to so many friends and family within the country, and I can attest personally to the suffering and hardships they are dealing with. Petroteq is currently awaiting the outcome of the proposed tender offer by Viston to purchase a majority of Petroteq. If this offer is successful, I will donate half of my profits from the sale of my shares to Ukraine's humanitarian causes.”

The deadline for Viston’s offer is set for April 14 [th] , which is for an all-cash transaction worth C$0.74 (US$0.59) per common share, Viston’s offer gives Petroteq a valuation of 279% over the closing price of C$0.195 on the TSX-V August 6, 2021—the day prior to the Canadian exchange’s cease trade order began.

This valuation also delivers a 1,032% premium over the TSX-V volume-weighted average price of $0.065 per common share for the 52-week period preceding April 15, 2021—the last trading day prior to the publication of the voluntary purchase offer in Germany.

On the US OTC exchange, shares of PQEFF is trading around ~US$0.33 as of April 18, 2022. This means there’s still a near 60% premium left available for those who follow through offering their shares to the buyer through the official takeover offer website PetroTeqoffer.com .

“After years of research and development, we have achieved a breakthrough not only are we more environmentally friendly, but we can also produce high-quality oil more cost-effectively and efficiently,” added Blyumkin. “It is no coincidence that in this phase we received a takeover offer which, although I believe it is well below the potential value of the company, will provide certainty and immediate liquidity to the nearly 10,000 shareholders and open up new prospects for the company.”

Beyond Blyumkin’s intentions, trom the top down, it appears that Viston’s offer has been favorably received by the entire Petroteq team. The Board of Directors has indicated its unanimous intention to tender shares, as well has one of the company’s largest shareholders , Cantone Asset Management, LLC.

Using its proprietary oil-extraction and remediation technology, Petroteq recently updated and completed the design for a planned oil sands extraction plant, capable of handling 5,000 barrels per day with Valkor, LLC.

The CORT system utilizes a conventional sand dryer modified for service with petrochemical solvents in a closed loop. A combined unit has been proposed as a turnkey system to handle as much as 8,000 tons of sand per day with a target of EPA Tier 1 quality for the resulting sand.

Back in February, Petroteq announced a third-party cash flow analysis from Broadlands, which showed a base case of a Net Present Value (NPV) of $1.285 billion, $602 million, and $341 million, based on a pre-income tax basis, at discount rates of 0.0, 7.5 and 15%, respectively.

Broadlands noted that an extraction plant producing 5,000 bpd could (as estimated by Petroteq) be capable of yielding 6,000 tons of sand per day or 1,860,000 tons per year (based on 310 operating days per year and operating 24 hours per day), and that silica flour is postulated to be 15% of the saleable product, fracking quality sand 55%, and bulk sand 30%.

Another oil and gas producer, Civitas Resources, Inc. /zigman2/quotes/204933876/composite CIVI -0.17% has pledged $10 million in humanitarian aid to Ukrainians. As Colorado’s first carbon neutral oil & gas producer Civitas is devoted to clean production of hydrocarbons, much like Petroteq.

Funding will be distributed to numerous charitable organizations associated with immediate refugee assistance for displaced Ukrainians as well as other peaceful humanitarian efforts.

“The tragic events still unfolding in Ukraine have created unimaginable suffering for millions of people, and our hearts go out to those whose lives have been upended by violence,” said Civitas Chairman and Interim CEO, Ben Dell. “As Civitas is committed to responsible global citizenship, we feel compelled to provide resources to those most impacted by the senseless invasion of Ukraine. We hope for an immediate end to this conflict.”

It's not just energy companies contributing, but big tech as well.

One of those that are throwing their hat into the efforts is Google and its parent company Alphabet Inc. /zigman2/quotes/205453964/composite GOOG -1.98% /zigman2/quotes/202490156/lastsale GOOGL -1.82% , which in the days following the February 24 invasion, contributed $15 million in donations and in-kind support to aid relief efforts in Ukraine. This included $5 million in employee matching contributions and $5 million in direct grants.

Less than 10 days later, Google committed an additional $10 million to help organizations delivering both immediate aid and longer-term assistance for refugees in Poland.

/zigman2/quotes/208122736/delayed
US : U.S.: OTC
$ 0.03
-0.0010 -2.86%
Volume: 338,995
Sept. 30, 2022 3:36p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.30 million
Rev. per Employee
N/A
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/zigman2/quotes/222990650/composite
US : U.S.: Nasdaq
$ 105.04
-1.62 -1.52%
Volume: 4.75M
Sept. 30, 2022 4:00p
P/E Ratio
57.47
Dividend Yield
N/A
Market Cap
$68.14 billion
Rev. per Employee
$1.20M
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/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 96.15
-1.94 -1.98%
Volume: 26.28M
Sept. 30, 2022 4:00p
P/E Ratio
17.89
Dividend Yield
N/A
Market Cap
$1250.95 billion
Rev. per Employee
$1.77M
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/zigman2/quotes/202490156/lastsale
US : U.S.: Nasdaq
$ 95.65
-1.77 -1.82%
Volume: 32.94M
Sept. 30, 2022 4:00p
P/E Ratio
17.80
Dividend Yield
N/A
Market Cap
$1250.95 billion
Rev. per Employee
$1.77M
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/zigman2/quotes/204933876/composite
US : U.S.: NYSE
$ 57.39
-0.10 -0.17%
Volume: 784,799
Sept. 30, 2022 4:00p
P/E Ratio
5.56
Dividend Yield
3.22%
Market Cap
$4.88 billion
Rev. per Employee
$8.29M
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 43.76
-0.40 -0.91%
Volume: 22.96M
Sept. 30, 2022 4:03p
P/E Ratio
8.57
Dividend Yield
3.66%
Market Cap
$245.60 billion
Rev. per Employee
$1.28M
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/zigman2/quotes/208122736/delayed
US : U.S.: OTC
$ 0.03
-0.0010 -2.86%
Volume: 338,995
Sept. 30, 2022 3:36p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.30 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/204933876/composite
US : U.S.: NYSE
$ 57.39
-0.10 -0.17%
Volume: 784,799
Sept. 30, 2022 4:00p
P/E Ratio
5.56
Dividend Yield
3.22%
Market Cap
$4.88 billion
Rev. per Employee
$8.29M
loading...
/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 96.15
-1.94 -1.98%
Volume: 26.28M
Sept. 30, 2022 4:00p
P/E Ratio
17.89
Dividend Yield
N/A
Market Cap
$1250.95 billion
Rev. per Employee
$1.77M
loading...
/zigman2/quotes/202490156/lastsale
US : U.S.: Nasdaq
$ 95.65
-1.77 -1.82%
Volume: 32.94M
Sept. 30, 2022 4:00p
P/E Ratio
17.80
Dividend Yield
N/A
Market Cap
$1250.95 billion
Rev. per Employee
$1.77M
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