16:18:18 EDT Tue 22 Apr 2025
Enter Symbol
or Name
USA
CA



Petro-Victory Energy Corp (2)
Symbol VRY
Shares Issued 16,232,097
Close 2024-12-30 C$ 0.86
Market Cap C$ 13,959,603
Recent Sedar Documents

Petro-Victory receives $500,000 (U.S.) in loans

2025-01-07 19:47 ET - News Release

Mr. Richard Gonzalez reports

PETRO-VICTORY ENERGY CORP ANNOUNCES SHORT TERM LOANS

Petro-Victory Energy Corp. has borrowed an aggregate $500,000 (U.S.) and issued unsecured promissory notes to 579 Max Ltd., Richard Gonzalez, Thomas Cooper and an arm's-length third party. Each loan bears interest at an annual rate of 14 per cent per annum until maturity and 18 per cent per annum thereafter. Each lender was issued bonus warrants, exercisable at 86 Canadian cents, as set out in the attached table.

The loans and the issuance of the warrants each constituted a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as some of the lenders are a related party (as defined in MI 61-101) of the company. The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the company is listed on the TSX Venture Exchange and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

The loans and issuance of warrants remain subject to TSX-V final acceptance.

About Petro-Victory Energy Corp.

Petro Victory 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. The company's common shares trade on the TSX-V under the ticker symbol VRY.

We seek Safe Harbor.

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