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Petro-Victory Energy Corp Announces the Closing of $600,000 Private Placement
Petro-Victory Energy Corp Announces the Closing of $600,000 Private Placement Cana...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n\n\n\nPetro-Victory Energy Corp Announces the Closing of $600,000 Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 2, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n CALGARY, May 2, 2019 /CNW/ - Petro-Victory Energy Corp. (TSX-V: VRY) (\"Petro-Victory\" or \"Company\") is pleased to announce that, further to its news release dated April ‎25, 2019, Petro-‎Victory has closed its previously announced $600,000 financing. The Company raised total gross proceeds ‎of approximately $‎664,460 by way of non-brokered private placement offering (the \"Offering\") of ‎common shares of the Company (\"Common Share\") at a price of $0.02 per ‎Common Share. The Offering was made pursuant to a waiver granted by the TSX Venture Exchange (\"TSXV\") which permits the Company to offer the Common Shares at a price below the TSXV $0.05 minimum pricing requirement.  \n\n \n \n\n \nAll securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing.  The net proceeds from the Offering will be used for maintenance of ongoing operations and the clearing of necessary arms-length payables, including legal, auditing, filing fees and outstanding payables for the work program in Brazil.\nThe completion of the Offering is subject to final TSXV acceptance. One director and one officer of the Company participated in the Offering purchasing a total of 9,518,000 Common Shares. The insider participation is deemed to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). Neither the Company, nor to the knowledge of the Company after reasonable inquiry, a related party, has knowledge of any material information concerning the Company or its securities that has not been genera...