Petroteq Energy Inc. announced that the restart of its oil sands plant at Asphalt Ridge (the "POSP") is currently proceeding more or less as planned. The Company received its mining permits earlier in the month of January 2021 expected. The POSP has since been started and is processing ore. As at the close of business on January 22, 2021, the POSP had produced over 150 barrels of net oil in solvent. The Company is now in the process of optimizing plant operating parameters to meet oil product specifications and optimize solvent usage and recovery. This phase is expected to last a couple of weeks. Thereafter, initial continuous production is expected to begin with a single, 12-hour shift targeting 250 bpd and ramping up in the event a second shift can be added.