Petro-Victory Energy ( (TSE:VRY) ) has provided an announcement.
Petro-Victory Energy Corp. has announced an extension of a US$1.7 million secured financing note from 579 Max, Ltd., pushing the due date from March 31, 2025, to March 31, 2026. As part of this extension, the company has issued 600,000 warrants to the lender, allowing the purchase of common shares at CAD $1.25 per share, which will expire on the new due date. This transaction is considered a related party transaction under MI 61-101, but the company has relied on exemptions from formal valuation and minority shareholder approval requirements. The extension and issuance of warrants are still subject to TSXV final acceptance.
More about Petro-Victory Energy
Petro-Victory Energy Corp. is engaged in the acquisition, development, and production of crude oil and natural gas resources in Brazil. The company holds 100% operating and working interests in thirty-eight licenses totaling 257,604 acres in two different producing basins in Brazil. Petro-Victory generates accretive shareholder value through disciplined investments in high impact, low risk assets. The Company’s Common Shares trade on the TSX Venture Exchange under the ticker symbol VRY.
YTD Price Performance: 45.35%
Average Trading Volume: 4,862
Technical Sentiment Signal: Buy
Current Market Cap: C$25.71M
For detailed information about VRY stock, go to TipRanks’ Stock Analysis page.