Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Petro-Victory Energy ( (TSE:VRY) ) has provided an update.
Petro-Victory Energy Corp. has signed a binding memorandum of understanding with Azevedo & Travassos Energia S.A. to merge their businesses, making Petro-Victory a wholly owned subsidiary of ATE. This transaction is expected to increase shareholder value by combining ATE’s growth strategy with Petro-Victory’s diverse asset portfolio. The deal includes a capital increase by ATE, the assumption of Petro-Victory’s debt, and a gross overriding royalty for Petro-Victory’s shareholders. The transaction is subject to various conditions, including regulatory approvals and the completion of a definitive agreement.
More about Petro-Victory Energy
Petro-Victory Energy Corp. operates in the energy sector, focusing on the exploration and production of oil and gas. The company is known for its diversified portfolio of production and exploration assets, which it leverages to enhance shareholder value.
Average Trading Volume: 6,567
Technical Sentiment Signal: Sell
Current Market Cap: C$8.47M
See more data about VRY stock on TipRanks’ Stock Analysis page.