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Petrox Resources ( (TSE:PTC) ) has issued an announcement.
Petrox Resources Corp., a Canadian junior oil and gas company, has announced an increase in its private placement offering of convertible debentures, raising the maximum principal amount to $400,000. This increase, approved by the TSX Venture Exchange, extends the closing deadline to November 24, 2025. The funds are intended for working capital and future acquisitions, though allocations may vary based on future operations and opportunities. The debentures, maturing in one year and bearing no interest, will convert into common shares upon completion of a 10:1 share consolidation.
More about Petrox Resources
Petrox is a publicly traded Canadian junior oil and gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian Basin. Petrox currently has a production property in Fletwode, Saskatchewan that produces approximately 17 barrels per day. The Common Shares of Petrox are listed and posted for trading on the TSX Venture Exchange under the trading symbol, ‘PTC’.
Average Trading Volume: 77,085
Technical Sentiment Signal: Sell
Current Market Cap: C$551.3K
For a thorough assessment of PTC stock, go to TipRanks’ Stock Analysis page.