Mr. Richard Gonzalez reports
PETRO-VICTORY ENERGY CORP. ANNOUNCES SHORT TERM PROMISSORY NOTE
Petro-Victory Energy Corp. has borrowed $250,000 (U.S.) and issued an unsecured promissory note to an arm's-length third party. The loan bears interest at an annual rate of 14 per cent per annum until maturity and 18 per cent per annum thereafter. The lender will be issued 285,360 bonus warrants in connection with the loan, with each warrant being exercisable at $1.25 (Canadian) per common share on or before March 26, 2026. The loan and issuance of warrants remain subject to TSX Venture Exchange final acceptance.
About Petro-Victory Energy Corp.
Petro-Victory Energy is an oil and gas company engaged in the acquisition, development and production of crude oil and natural gas in Brazil. The company holds interest in 55 licences covering 295,829 acres, net across three producing basins (1). Through disciplined investments in high-impact, low-risk assets, Petro-Victory is focused on delivering sustainable shareholder value. The company's common shares trade on the TSX Venture Exchange under the ticker symbol VRY.
(1) Total portfolio under management as of the date of this release includes 49 concession contracts with 276,755 acres, net to Petro-Victory, plus an additional six concessions and 19,074 acres in joint venture with BlueOak in Capixaba Energia.
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