- Petro-Victory (VRY) is increasing its non-brokered private placement from US$2.7 million to up to US$4 million
- The company will allocate the proceeds toward general working capital
- The financing is slated to close by March 23, 2023
- Petro-Victory Energy is engaged in the acquisition, development and production of crude oil and natural gas resources in Brazil
- Petro-Victory (VRY) is unchanged trading at $2.69 per share
Petro-Victory (VRY) is increasing its non-brokered private placement from US$2.7 million to up to US$4 million.
The company will allocate the proceeds toward general working capital.
Each unit is priced at C$3.00 and consists of one common share and one transferable common share purchase warrant.
Each warrant entitles the holder to acquire one common share priced at C$4.00 for 12 months following the closing date.
Management reserves the right to increase the offering to US$5 million.
The financing is slated to close by March 23, 2023, subject to regulatory approval.
Petro-Victory Energy is engaged in the acquisition, development and production of crude oil and natural gas resources in Brazil. The company holds a 100-per-cent operating and working interest in 38 licenses totaling 257,604 acres in two different producing basins in Brazil.
Petro-Victory (VRY) is unchanged trading at $2.69 per share as of 10:49 am EST.