Mr. Richard Gonzalez reports
PETRO-VICTORY ENERGY CORP. ANNOUNCES USD$1.0 MILLION PRIVATE PLACEMENT
Petro-Victory Energy Corp. intends to complete a non-brokered private placement offering of 450,000 units of the company at a price of $3 per unit for gross proceeds of up to $1.3-million.
Each unit will consist of one common share in the capital of the company and one transferable share purchase warrant entitling the holder thereof to acquire one common share at a price of $4, exercisable for a period of 12 months following the closing date.
The net proceeds from the offering will be used for general working capital.
The closing of the offering is expected to occur on or about Oct. 31, 2023, and is subject to regulatory approval, including approval of the TSX Venture Exchange.
About Petro-Victory Energy Corp.
Petro-Victory Energy is engaged in the acquisition, development and production of crude oil and natural gas resources in Brazil. The company holds 100-per-cent operating and working interests in 38 licences, totalling 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.
We seek Safe Harbor.
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