Latest news with #Petro-VictoryEnergyCorp
Cision Canada
22-07-2025
- Business
- Cision Canada
Petro-Victory Energy Corp. Announces Corporate Update
DALLAS, July 21, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) (" Petro-Victory" or " Company") announces that it has borrowed an aggregate of US$475,000 (the " Loans") and issued unsecured promissory notes to Thomas Cooper, a director of the Company, and to an arm's length third party (collectively, the " Lenders"). The Loans have a term of one year and bear interest at an annual rate of 14% per annum. The Lenders will be issued an aggregate of 1,062,123 bonus warrants (the " Warrants") in connection with the Loans, with 502,451 Warrants being exercisable at CAD$0.61 per common share on or before July 1, 2026 and with 559,672 Warrants being exercisable at CAD$0.61 per common share on or before July 7, 2026. The Company also announces that it has entered into an unsecured promissory note with a private company lender formed by Thomas Cooper and other arm's length third parties for a loan of up to US$3,000,000 to be drawn from time to time in multiple advances (the " Line of Credit"). The Line of Credit has a term of one year and bears interest at an annual rate of 14% per annum. The lender will be issued up to 6,747,541 Warrants in connection with the Line of Credit, with 2.25 Warrants to be granted for each US$1 of the principal amount advanced under the Line Credit. The Warrants will be exercisable at CAD$0.61 per common share on or before July 21, 2026. The Loans, the Line of Credit and the issuance of Warrants remain subject to TSX Venture Exchange (" TSXV") final acceptance. The Loan from Thomas Cooper in the aggregate amount of US$225,000 and the issuance of 502,451 Warrants in connection therewith and the Line of Credit and the issuance of the Warrants in connection therewith each constituted a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Mr. Cooper is a related party (as defined in MI 61-101) of the Company. The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the Company is listed on the TSXV and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101). About Petro-Victory Energy Corp. Petro-Victory Energy Corp. is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil. The total portfolio under management as of the date of this filing includes 49 concession contracts with 276,755 acres, net to Petro-Victory, plus an additional 6 concessions and 19,074 acres owned jointly with BlueOak in Capixaba Energia. 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. Cautionary Note Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available. Advisory Regarding Forward-Looking Statements In the interest of providing Petro-Victory's shareholders and potential investors with information regarding Petro-Victory's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, " forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "objective," "ongoing," "outlook," "potential," "project," "plan," "should," "target," "would," "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements relating to, but not limited to, TSXV approval for the Loans, Line of Credit and Warrants. These forward-looking statements are based on certain key assumptions regarding, among other things, the receipt of TSXV approval for the Loans, the Line of Credit and Warrants. Readers are cautioned that such assumptions, although considered reasonable by Petro-Victory at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The above summary of assumptions and risks related to forward-looking statements in this press release has been provided in order to provide shareholders and potential investors with a more complete perspective on Petro-Victory's current and future operations and such information may not be appropriate for other purposes. There is no representation by Petro-Victory that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and Petro-Victory does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
Cision Canada
23-06-2025
- Business
- Cision Canada
Petro-Victory Energy Announces the Commencement of the Fully-Funded Drilling Campaign in the Potiguar Basin
DALLAS, June 23, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) ("Petro-Victory" or the "Company"), an oil and gas exploration and production company focused on onshore Brazil, is pleased to announce the commencement of the drilling campaign of the AND-5 well at the Andorinha Field located in the Potiguar Basin, Rio Grande do Norte, Brazil. AND-5 Well: Fully-Funded Drilling Campaign Underway in the Potiguar Basin The AND-5 well drilling campaign, located in the 100% owned Andorinha Field in Brazil's Potiguar Basin, commenced on June 20, 2025. The well represents the first of two fully-funded drilling programs in the Andorinha field under Petro-Victory's strategic partnership with Azevedo & Travassos Energia ("ATE") previously announced in a press release on June 24 th, 2024. The well targets the Açu and Alagamar formations at a targeted total depth of approximately 1,177 meters. The Company looks forward to providing further updates upon completion of the well. About Petro-Victory Energy Corp. Petro-Victory Energy Corp. is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil. The total portfolio under management as of the date of this filing includes 49 concession contracts with 276,755 acres, net to Petro-Victory plus an additional 6 concessions and 19,074 acres owned jointly with BlueOak in Capixaba Energia. 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. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "target", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to the drilling and completion of the AND-5 well and ATE's option to acquire a portion of Petro-Victory's interest in the Andorinha Field. Such forward – looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: availability of skilled labour; availability of drilling and related equipment; timing and amount of capital expenditures; current and anticipated commodity prices and royalty regimes; the price of oil; conditions in general economic and financial markets; effects of regulation by governmental agencies; and receipt of partner, regulatory and community approvals. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Information and guidance provided herein supersedes and replaces any forward-looking information provided in prior disclosures. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Company. Other risks are more fully described in the Company's most recent Management Discussion and Analysis and Annual Information Form, which are incorporated herein by reference and are filed on SEDAR+ at Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. SOURCE Petro-Victory Energy Corp.
Cision Canada
12-06-2025
- Business
- Cision Canada
Petro-Victory Energy Corp. Announces Short Term Loans
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/ DALLAS, June 11, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) (" Petro-Victory" or the " Company") announces that it has borrowed an aggregate of US$350,000 (the " Loans") and issued unsecured promissory notes to Thomas Cooper, a director of the Company, and to an arm's length third party (collectively, the " Lenders"). The Loans have a term of one year and bear interest at an annual rate of 14% per annum until maturity and 18% per annum thereafter. The Lenders will be issued an aggregate of 685,350 bonus warrants (the " Warrants") in connection with the Loans, with each Warrant being exercisable at CAD$0.70 per common share on or before June 2, 2026. The Loans and issuance of Warrants remain subject to TSX Venture Exchange (" TSXV") final acceptance. The Loan from Thomas Cooper in the aggregate amount of US$175,000 and the issuance of 342,675 Warrants in connection therewith each constituted a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Mr. Copper is a related party (as defined in MI 61-101) of the Company. The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the Company is listed on the TSXV and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101). About Petro-Victory Energy Corp. Petro-Victory Energy Corp. is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil. The total portfolio under management includes 49 concession contracts with 276,755 acres, net to Petro-Victory plus an additional 6 concessions and 19,074 acres owned jointly with BlueOak. 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. Cautionary Note Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available. In the interest of providing Petro-Victory's shareholders and potential investors with information regarding Petro-Victory's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, " forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "objective," "ongoing," "outlook," "potential," "project," "plan," "should," "target," "would," "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements relating to, but not limited to, TSXV approval for the Loan and Warrants. These forward-looking statements are based on certain key assumptions regarding, among other things, the receipt of TSXV approval for the Loan and Warrants. Readers are cautioned that such assumptions, although considered reasonable by Petro-Victory at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The above summary of assumptions and risks related to forward-looking statements in this press release has been provided in order to provide shareholders and potential investors with a more complete perspective on Petro-Victory's current and future operations and such information may not be appropriate for other purposes. There is no representation by Petro-Victory that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and Petro-Victory does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law. SOURCE Petro-Victory Energy Corp.
Yahoo
12-06-2025
- Business
- Yahoo
Petro-Victory Energy Corp. Announces Short Term Loans
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/ DALLAS, June 11, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) ("Petro-Victory" or the "Company") announces that it has borrowed an aggregate of US$350,000 (the "Loans") and issued unsecured promissory notes to Thomas Cooper, a director of the Company, and to an arm's length third party (collectively, the "Lenders"). The Loans have a term of one year and bear interest at an annual rate of 14% per annum until maturity and 18% per annum thereafter. The Lenders will be issued an aggregate of 685,350 bonus warrants (the "Warrants") in connection with the Loans, with each Warrant being exercisable at CAD$0.70 per common share on or before June 2, 2026. The Loans and issuance of Warrants remain subject to TSX Venture Exchange ("TSXV") final acceptance. The Loan from Thomas Cooper in the aggregate amount of US$175,000 and the issuance of 342,675 Warrants in connection therewith each constituted a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Mr. Copper is a related party (as defined in MI 61-101) of the Company. The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the Company is listed on the TSXV and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101). About Petro-Victory Energy Corp. Petro-Victory Energy Corp. is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil. The total portfolio under management includes 49 concession contracts with 276,755 acres, net to Petro-Victory plus an additional 6 concessions and 19,074 acres owned jointly with BlueOak. 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. Cautionary Note Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available. Advisory Regarding Forward-Looking Statements In the interest of providing Petro-Victory's shareholders and potential investors with information regarding Petro-Victory's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "objective," "ongoing," "outlook," "potential," "project," "plan," "should," "target," "would," "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements relating to, but not limited to, TSXV approval for the Loan and Warrants. These forward-looking statements are based on certain key assumptions regarding, among other things, the receipt of TSXV approval for the Loan and Warrants. Readers are cautioned that such assumptions, although considered reasonable by Petro-Victory at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The above summary of assumptions and risks related to forward-looking statements in this press release has been provided in order to provide shareholders and potential investors with a more complete perspective on Petro-Victory's current and future operations and such information may not be appropriate for other purposes. There is no representation by Petro-Victory that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and Petro-Victory does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law. SOURCE Petro-Victory Energy Corp. View original content to download multimedia:
Yahoo
21-05-2025
- Business
- Yahoo
Petro-Victory Energy Corp. Corporate Update
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/ DALLAS, May 21, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) ("Petro-Victory" or the "Company") is pleased to announce that the Company's board of directors has approved the grant of stock options (the "Options") exercisable for a total of 918,507 common shares ("Common Shares") to its directors, officers, employees and consultants. All Options were granted pursuant to the Company's stock option plan and are subject to the terms of the applicable grant agreements and the requirements of the TSXV. The Options were granted at an exercise price of $0.95 and expire on May 20, 2030. The Options shall vest annually over three years from the date of grant. The Options are subject to TSXV acceptance. The Company relied on section 5.5(b) of Multilateral Instrument 61-101 ("MI 61-101") as the exemption from the formal valuation requirements of MI 61-101 in respect of the grant of options to the directors and officers of the Company as the common shares of the Company are not listed on a specified market (and the common shares are only listed on the TSXV). The Company relied on section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the grant of options to the directors and officers of the Company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the grant of the options to the director of the Company exceeded 25% of the Company's market capitalization. In this grant, a total of 853,507 options were granted to the directors and officers of the Company. About Petro-Victory Energy Corp. Petro-Victory Energy Corp. is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil. The total portfolio under management includes 49 concession contracts with 276,755 acres, net to Petro-Victory plus an additional 6 concessions and 19,074 acres owned jointly with BlueOak. 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. Cautionary Note Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available. Advisory Regarding Forward-Looking Statements In the interest of providing Petro-Victory's shareholders and potential investors with information regarding Petro-Victory's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "intend", "may", "objective", "ongoing", "outlook", "potential", "project", "plan", "should", "target", "would", "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. SOURCE Petro-Victory Energy Corp. View original content to download multimedia:
