Petrox Announces Increase and Extension to Private Placement

Executive Summary

• Petrox Resources Corp. increased the maximum principal amount of its convertible debenture offering from $350,000 to $400,000.
• The TSX Venture Exchange approved the increase and granted a short extension, moving the closing deadline to November 24, 2025.
• Debentures are zero‑interest, one‑year term instruments that will automatically convert into common shares at $0.05 per share (10:1 consolidation), issuing 8,000,000 shares, with a four‑month hold period.

Key Details

• Original Offering: Minimum principal $250,000; maximum $350,000.
• Revised Maximum Principal: $400,000 total aggregate principal amount.
• TSX Venture Exchange Approval: Received for the increased amount and extension of closing date to 2025‑11‑24.
• Debenture Terms:
• Maturity: 1 year from issue date.
• Interest: None (zero‑coupon).
• Prepayment: Allowed at any time with 30‑day written notice, no penalty.
• Conversion Mechanics:
• Upon completion of a 10:1 common‑share consolidation, each debenture will convert automatically at $0.05 per share.
• Expected issuance upon conversion: 8,000,000 common shares.
• Hold period: Four months post‑conversion.
• Placement Method: Private placement under prospectus exemptions.
• Finder’s Fees: May be paid to eligible persons who source subscribers, in compliance with securities laws and exchange policies.
• Use of Proceeds: 100 % of net proceeds earmarked for working capital and funding future acquisitions (actual allocation may vary).
• Current Operations: Petrox produces ~17 barrels of oil per day from its Fletwode, Saskatchewan property.

Notable Quotes

(No direct quotes were provided in the release.)