Financings

Petrox Announces Proposed Private Placement and Share Consolidation and Announces Expiry of Letter of Intent with SSGE Bio-Energy Company Limited

By The Northwire Desk — AI Analysis Oct 06, 2025 · 16:49 PTC · 0.005 Petrox Resources Corp.

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Petrox Resources Corp. proposes a non‑brokered private placement of convertible debentures with aggregate principal between $250,000 and $350,000, bearing no interest and maturing one year after issuance.
If the minimum offering is raised, the company will execute a 10:1 share consolidation; the debentures will automatically convert into common shares at $0.05 per share, issuing 5 million (minimum) to 7 million (maximum) new shares post‑consolidation.
All net proceeds (up to 100%) are earmarked for working capital and future acquisitions; trading of Petrox’s common shares will resume on October 9, 2025 following the termination of a prior LOI with SSGE Bio‑Energy.

Offering Size: Minimum $250,000 – Maximum $350,000 principal amount.
Debenture Terms:
Maturity: 1 year from issue date.
Interest: None (zero‑coupon).
Prepayment: Allowed at any time with 30 days written notice, no penalty.
Conversion Mechanics:
Upon a successful 10:1 consolidation, debentures convert automatically to common shares at $0.05 per share.
Minimum conversion results in 5,000,000 new common shares; maximum results in 7,000,000 new common shares.
Hold period on converted shares: 4 months.
Consolidation Details:
Proposed ratio up to 10:1 (director discretion).
Current outstanding shares: 55,132,258.
Post‑consolidation shares (if 10:1): ~5,513,226 (rounded).
Shareholder approval required; authorization expires 15 months after approval.
Use of Proceeds: 100% of net proceeds intended for working capital and funding future acquisitions (actual allocation may vary).
Regulatory Status: Conditional approval from the TSX Venture Exchange for both the private placement and consolidation.
Finder’s Fees: May be paid to eligible persons assisting with subscription, in compliance with securities laws and exchange policies.
Termination of Prior LOI: The non‑binding letter of intent with SSGE Bio‑Energy Company Limited has expired; trading halt lifted, shares to resume trading on 2025‑10‑09.

(No direct quotes were provided in the release.)

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