Mr. Edwin Tam reports

PETROX ANNOUNCES INCREASE AND EXTENSION TO PRIVATE PLACEMENT

Petrox Resources Corp. has increased its offering of convertible debentures, previously announced on Oct. 6, 2025. The corporation previously announced that debentures having an aggregate principal amount of a minimum of $250,000 and a maximum of $350,000 would be issued under the offering. The new maximum principal amount is $400,000.

The increase in the financing was subject to the approval of the TSX Venture Exchange, which was obtained. The TSX Venture Exchange has also granted a short extension of the deadline to close the offering. The new closing deadline for the offering is Nov. 24, 2025.

The debentures shall mature one year from the date of issue and shall bear no interest. The corporation may prepay the indebtedness under the debentures at any time upon 30 days of prior written notice, without penalty.

The corporation intends to complete a consolidation of the common shares of its share capital on 1:10 basis. Upon completion of the consolidation, the principal of the debentures will automatically convert into common shares at a conversion price of five cents per share, resulting in the issuance of eight million common shares. The debentures and the common shares issuable upon the conversion of the debentures will be subject to a four-month hold period.

The offering will be completed on a private placement basis pursuant to exemptions from prospectus requirements.

The corporation may pay finders' fees on all or a portion of the private placement to eligible persons seeking subscribers to the financing, all in accordance with applicable securities laws and the policies of the exchange.

One hundred per cent of the net proceeds are expected to be used for working capital and toward the financing of future acquisitions. Although the corporation intends to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.

About Petrox Resources Corp.

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, Sask., 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.

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