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Petro-Victory Energy ( (TSE:VRY) ) has shared an announcement.
Petro-Victory Energy Corp. has secured a total of US$475,000 in loans and issued unsecured promissory notes to its director, Thomas Cooper, and a third-party lender. The loans, which carry an annual interest rate of 14%, are accompanied by bonus warrants exercisable at CAD$0.61 per share. Additionally, the company has arranged a US$3,000,000 line of credit with a private company lender, also associated with Cooper, under similar terms. These financial arrangements, subject to TSX Venture Exchange approval, are part of related party transactions under Canadian securities regulations, but exemptions were applied due to the company’s market capitalization.
More about Petro-Victory Energy
Petro-Victory Energy Corp. is an oil and gas company involved in the acquisition, development, and production of crude oil and natural gas in Brazil. The company manages a portfolio that includes 49 concession contracts covering 276,755 acres, as well as additional concessions owned jointly with BlueOak in Capixaba Energia. Petro-Victory focuses on sustainable shareholder value through investments in high-impact, low-risk assets. Its shares are traded on the TSX Venture Exchange under the ticker symbol VRY.
Average Trading Volume: 7,670
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$19.49M
See more data about VRY stock on TipRanks’ Stock Analysis page.