Northwire Canada EditionWednesday, July 15, 2026
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Financings

Petro-Victory amends warrants, grants bonus warrants

By The Northwire Desk — AI Analysis Mar 13, 2026 · 19:30 VRY · 0.63 Petro-Victory Energy Corp
VRY · Price

Executive Summary

  • Petro-Victory Energy Corp. has amended the terms of two existing warrant issuances (dated Feb 2024 and March 2023) to lower the exercise price to $0.60 CAD and extend expiration dates to March/April 2026 to incentivize exercise.
  • The company entered into a $300,000 USD unsecured promissory note with 579 Max Ltd., secured by an annual interest rate of 14% and the issuance of 680,250 bonus warrants to the lender.
  • Both the warrant amendments and the loan transaction are classified as related party transactions under Multilateral Instrument 61-101, involving directors T. Lynn Bryant and Chris Cooper, and are subject to final TSX Venture Exchange acceptance.

Key Details

  • Warrant Amendment (Feb 2024 Issuance):
    • Original quantity: 1,205,350 common share purchase warrants.
    • New exercise price: $0.60 CAD per share (reduced from $4.00 CAD).
    • New expiry date: March 29, 2026 (extended from February 27, 2026).
  • Warrant Amendment (March 2023 Issuance):
    • Original quantity: 1,851,960 common share purchase warrants.
    • Amended quantity: 1,577,156 warrants affected.
    • New exercise price: $0.60 CAD per share (reduced from $4.00 CAD).
    • New expiry date: April 27, 2026 (extended 30 days from original March 28, 2026 expiry).
    • All other terms remain unchanged.
  • Short Term Loan Transaction:
    • Principal amount: $300,000 USD.
    • Instrument: Unsecured promissory note.
    • Lender: 579 Max Ltd.
    • Interest rate: 14% per annum.
    • Maturity date: February 12, 2027.
  • Bonus Warrants Issued with Loan:
    • Quantity: 680,250 warrants.
    • Exercise price: $0.60 CAD per share.
    • Expiry date: February 12, 2027.
  • Regulatory & Related Party Status:
    • Transactions constitute related party transactions under Multilateral Instrument 61-101.
    • Related parties involved: T. Lynn Bryant (Director, principal of lender) and Chris Cooper (Director, warrant holder).
    • Exemptions relied upon: Sections 5.5(a) and 5.7(1)(a) of MI 61-101 (fair market value of consideration did not exceed 25% of market capitalization).
    • Status: Subject to final acceptance by the TSX Venture Exchange.
Read the original news release →

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