CALGARY, AB, Aug. 25, 2022 /CNW/ - Petro-Victory Energy Corp. ("Petro-Victory" or the "Company") (TSXV: VRY) announces that it has applied to the TSX Venture Exchange (the "TSXV") for a one-time extension of the expiration date of common share purchase warrants issued by the Company (the "Warrants") in connection with US$1,000,000 unsecured financing on August 25, 2021 ("Loan Financing"). The amendments to the expiration date of the Warrants is set out in the table below. The Warrants to be amended do not include any warrants issued to finders or agents in connection with the Loan Financing. No other terms of the Warrants are to be amended.
| Date of Issuance | Number of
Warrants
Outstanding | Expiration
Date | Amended
Expiration
Date | Exercise
Price (not
amended) |
| August 25, 2021 | 328,750 | August 25, 2022 | November 25, 2022 | CAD$2.03 |
The proposed amendment of the Warrants is subject to the approval of the TSXV and the holder of the Warrants will not receive an amended Warrant certificate, and will be required to submit their original Warrant certificate in order to exercise Warrants.
About Petro-Victory Energy Corp.
Petro-Victory Energy Corp. is engaged in the acquisition, development, and production of crude oil and natural gas resources in Brazil. The company holds 100% operating and working interests in thirty-eight (38) licenses totaling 257,604 acres in two 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 Venture Exchange ("TSXV") under the ticker symbol VRY.