/ NOT FOR CIRCULATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO ADHERE TO THIS CONSTRAINT MIGHT CONSTITUTE An OFFENSE OF U.S. SECURITIES LAWS/
Closing of the Shares-for-Debt Deal undergoes traditional closing conditions, consisting of the approval of the TSXV. The Business plans to close the Shares-for-Debt Deal as quickly as practicable. The Typical Shares to be provided pursuant to the Shares-for-Debt Deal will undergo a hold duration of 4 months and one day from the date of issuance.
About Petro-Victory Energy Corp.
Cautionary Note
Neither the TSXV nor its Guideline Solutions Company (as that term is specified in the policies of the TSXV) accepts duty for the adequacy or precision of this release.
Advisory Relating To Positive Declarations
Real outcomes attained will differ from the info supplied herein as an outcome of various recognized and unidentified threats and unpredictabilities and other elements.
SOURCE Petro-Victory Energy Corp.
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DALLAS, March 22, 2026/ CNW/ – Petro-Victory Energy Corp. (TSXV: VRY) (“ Petro-Victory” or the “ Business“) reveals that, even more to its press launches outdated October 6, 2022, February 14, 2024 and March 25, 2025, the Business has actually extended the regard to a US$ 1.7 countless protected funding (the “ Loan“) from 579 Max, Ltd. (the “ Loan Provider“). The Loan bears interest payable quarterly at the rate of 14% per year. The note was due March 31, 2026, however has actually been extended by 24 months to March 31, 2028 (the “ Extension“).
In connection with the modification to the initial Loan, the Lending institution was provided 600,000 reward warrants which have actually ended simultaneously with the Extension. As factor to consider for the Extension, the Business has actually given the Lending institution 600,000 warrants to buy a like variety of typical shares (“ Typical Shares“) at a workout rate equivalent to C$ 0.68 per Typical Share (the “ Warrants“), which will end on March 31, 2028. The Extension and the issuance of the Warrants stay based on TSX Endeavor Exchange (“ TSXV“) approval.
The Business likewise reveals that it plans to participate in financial obligation settlement arrangements to settle arrearage in the quantity of approximately roughly US$ 500,000 (the “ Financial Obligation“) owing to particular directors and arm’s- length lenders of the Business (consisting of Financial obligation (besides the Loan) owed to the Lending institution in the quantity of US$ 500,000), by releasing approximately 980,392 Typical Shares at a considered rate of C$ 0.68 per Typical Share (the “ Shares-for-Debt Deal“), to the lenders.
The Loan, the issuance of the Warrants and the Shares-for-Debt Deal each made up a “associated celebration deal” under Multilateral Instrument 61-101 – Security of Minority Security Holders in Unique Deals (“ MI 61-101“) as T. Lynn Bryant, a director and associated celebration (as specified in MI 61-101) of the Business, is a principal of the Lending institution. The Business counted on the exemptions from the official assessment and minority investor approval requirements of MI 61-101 included in Areas 5.5( a) and 5.7( 1 )( b) of MI 61-101 in regard of associated celebration matters, as the Business is noted on the TSXV and neither the reasonable market price (as figured out under MI 61-101) of the topic of, nor the reasonable market price of the factor to consider for, the deal, insofar as it includes the associated celebrations, goes beyond $2,500,000 (as figured out under MI 61-101).
Petro-Victory Energy Corp. is an oil and gas business participated in the acquisition, advancement, and production of petroleum and gas in Brazil. The overall portfolio under management since the date of this filing consists of 49 concession agreements with 276,755 acres, net to Petro-Victory, plus an extra 6 concessions and 19,074 acres owned collectively with BlueOak in Capixaba Energia. Through disciplined financial investments in high-impact, low-risk properties, Petro-Victory is concentrated on providing sustainable investor worth. The Business’s typical shares trade on the TSXV under the ticker sign VRY.
This news release does not make up a deal to offer or the solicitation of a deal to purchase, nor will there be any sale of these securities, in any jurisdiction in which such deal, solicitation or sale would be illegal previous to registration or credentials under the securities laws of such jurisdiction. The securities have actually not been and will not be signed up under the United States Securities Act of 1933, as changed, or any state securities laws and might not be used or offered within the United States unless an exemption from such registration is offered.
In the interest of supplying Petro-Victory’s investors and prospective financiers with info relating to Petro-Victory’s future strategies and operations, particular declarations in this news release are “positive declarations” within the significance of the United States Private Securities Lawsuits Reform Act of 1995 and “positive info” within the significance of relevant Canadian securities legislation (jointly, “ positive declarations“). Sometimes, positive declarations can be recognized by terms such as “prepare for,” “think,” “continue,” “could,” “quote,” “anticipate,” “projection,” “mean,” “may,” “unbiased,” “continuous,” “outlook,” “prospective,” “task,” “strategy,” “should,” “target,” “would,” “will” or comparable words recommending future results, occasions or efficiency. The positive declarations included in this news release speak just since the date thereof and are specifically certified by this cautionary declaration.
Particularly, this news release includes positive declarations connecting to, however not restricted to, the closing of the Shares-for-Debt Deal, prepared for timing of the closing of the Shares-for-Debt Deal and invoice of approval of the Shares-for-Debt Deal, the Extension and Warrants from the TSXV. These positive declarations are based upon particular essential presumptions relating to, to name a few things, the invoice of TSXV approval for the Shares-for-Debt Deal, the Loan and the issuance of the Warrants. Readers are warned that such presumptions, although thought about affordable by Petro-Victory at the time of preparation, might show to be inaccurate. Real outcomes attained will differ from the info supplied herein as an outcome of various recognized and unidentified threats and unpredictabilities and other elements.
The above summary of presumptions and threats associated with positive declarations in this news release has actually been supplied in order to offer investors and prospective financiers with a more total point of view on Petro-Victory’s existing and future operations and such info might not be suitable for other functions. There is no representation by Petro-Victory that real outcomes attained will be the exact same in entire or in part as those referenced in the positive declarations and Petro-Victory does not carry out any commitment to upgrade openly or to modify any of the consisted of positive declarations, whether as an outcome of brand-new info, future occasions or otherwise, other than as might be needed by relevant securities law.