- Petro-Victory Energy ( OTCPK:PTVRF ) ( TSXV: VRY:CA ) closed a $1.7M of secured financing from 579 Max ( OTCPK:MXLLF ).
- The financing carries an interest rate of 12% per annum, payable quarterly.
- The principal amount is due Mar. 31, 2024.
- MXLLF will receive 500K warrants, with each warrant to enable the lender to purchase one common share for three years at CAD3 per share.
- Additionally, the petroleum and natural gas company has acquired a 3% net profit interest of future hydrocarbon production in the Pirity ?Block concession located in Paraguay.
- The acquisition has a consideration of $25,000 and 100,000 warrants, where each Pirity warrant entitles the holder to purchase one additional share for CAD3 per share.
- Source: Press Release
For further details see:
Petro-Victory Energy closes $1.7M financing