Petro-Victory closes $2.3-million (U.S.) financing

Executive Summary

• Petro‑Victory Energy Corp. closed a non‑brokered private placement of 2,100,666 Class A common shares at CAD $1.50 per share, generating gross proceeds of approximately US $2.3 million.
• Net proceeds will be allocated to general working capital, capital expenditures for existing field development, and corporate expenses.
• The issued shares are subject to a four‑month statutory hold period expiring on 31 Jan 2026 and the closing remains contingent upon final acceptance by the TSX Venture Exchange.

Key Details

• Shares Issued: 2,100,666 Class A common shares.
• Price per Share: CAD $1.50 (approximately US $0.0011).
• Gross Proceeds: Approximately US $2.3 million.
• Use of Proceeds: General working capital; capital expenditures for development of existing oil and gas fields; corporate expenses.
• Statutory Hold Period: Four months from issuance, expiring 31 Jan 2026, per Canadian securities legislation.
• Closing Condition: Subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were provided in the release.)