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Petro-Victory Energy ( (TSE:VRY) ) has shared an announcement.
Petro-Victory Energy Corp. has announced the completion of a US$300,000 borrowing transaction with 579 Max, Ltd., involving an unsecured promissory note with a 14% annual interest rate, maturing in October 2026. The transaction, which includes the issuance of 600,000 bonus warrants, is considered a related party transaction under MI 61-101 due to the involvement of a company director. The company has utilized exemptions from formal valuation and minority shareholder approval requirements, and the transaction is pending TSXV acceptance.
More about Petro-Victory Energy
Petro-Victory Energy Corp. is an oil and gas company focused on the acquisition, development, and production of crude oil and natural gas in Brazil. The company manages a portfolio of 49 concession contracts covering 276,755 acres and has additional joint ownership in 6 concessions with 19,074 acres. Petro-Victory aims to deliver sustainable shareholder value through disciplined investments in high-impact, low-risk assets. Its common shares are traded on the TSX Venture Exchange under the ticker symbol VRY.
Average Trading Volume: 7,633
Technical Sentiment Signal: Sell
Current Market Cap: C$14.83M
For detailed information about VRY stock, go to TipRanks’ Stock Analysis page.