Petroteq Energy Inc. entered into two non-exclusive, non-transferable license agreements with Cantone Asset Management, LLC (CAM) in Eatontown, New Jersey and Petroleum Capital Funding, LP (PCF) based in Cape Coral, Florida. Cantone Asset Management, LLC and its affiliates, is one of Company's largest shareholders and has tendered more than 100,000,000 shares in takeover-bid from Viston United Swiss AG, offer. Under the terms of the agreements, Petroteq shall receive $2,000,000 dollars for each license payable in accordance with the following terms: An initial non-refundable payment of $1,000,000 shall be paid to Petroteq on or prior to the Construction Commencement date; and A second and final non-refundable installment payment of $1,000,000 shall be paid to Petroteq within 10 days after the Construction Completion Date: and Beginning 6 months after the Construction Completion Date, licensee shall pay to Petroteq 75,000 a Base License Royalty for each calendar quarter, and For a period of 2 years following the payment of each Base License Royalty to Petroteq, the payments may be applied by the Licensee as a credit to reduce the amount of License Production Royalty, subject to certain terms and conditions: and Licensee shall pay to Petroteq a License Production Royalty equal to 5% percent of the Net Revenue received by Licensee from production, sale or other disposition of Licensed Products extracted; and Licensee shall invest or secure investment of a minimum of $10,000,000 towards the site selection, design, and construction of the Oil Sands Plant contemplated hereunder within 24 months after the Effective Date.