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Petro-Victory Energy Corp. Announces Update to CAD $10.7 Million Private Placing
Petro-Victory Energy Corp. Announces Update to CAD $10.7 Million Private Placing ...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n \n \n \n Petro-Victory Energy Corp. Announces Update to CAD $10.7 Million Private Placing\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/\n \n \n \n CALGARY, AB\n \n ,\n \n Feb. 16, 2022\n \n /CNW/ - Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSXV: VRY) is pleased to announce that the private placement announced on\n \n February 10, 2022\n \n (\"Placing\") will be completed as a Unit private placement.  The subscription receipt financing structure is no longer required as the Personal Information Form of the lead investor has been cleared by the TSX Venture Exchange Inc. (\"TSXV\").  This will greatly reduce costs of the offering.\n \n \n \n \n \n \n \n \n \n It is the intention of the Company to complete the private placement offering of up to 5,500,000 units at a ‎price of\n \n CAD$2.00\n \n per unit, for gross proceeds of up to\n \n CAD$11,000,000\n \n . ‎Each unit will consist of: ‎(i) one common share in the capital of the Company (\"Common Share\"), (ii) one-half of one (1/2) ‎transferable share purchase warrant entitling the holder thereof to ‎acquire one Common Share at ‎a price of\n \n CAD$2.25\n \n per share, and (iii) one-half of one (1/2) transferable share purchase ‎warrant entitling the holder ‎thereof to ‎acquire one Common Share at a price ‎of\n \n CAD$2.75\n \n per ‎share (collectively the \"Warrants\"). The rights under the Warrants will last for a period of ‎twenty-four (24) months ‎following the closing date.‎\n \n \n Management and Directors will participate in the placement for a total of approximately\n \n CAD$359,000\n \n . A portion of the proceeds of the Placing will be used to repay short term loans advanced by certain insiders to the Company.&...