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Petro-Victory Energy Corp. Announces Update to Warrant Incentive Plan and Short Term Loan
Petro-Victory Energy Corp. Announces Update to Warrant Incentive Plan and Short Term Loan ...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n\n\nPetro-Victory Energy Corp. Announces Update to Warrant Incentive Plan and Short Term Loan\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\nCanada NewsWire\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/DALLAS, March 13, 2026 /CNW/ - Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSXV: VRY) announces an update to the warrant amendments previously announced on February 21, 2026 with respect to the 1,205,350 common share purchase warrants issued on February 27, 2024 (the \"February Warrants\") and the 1,851,960 common share purchase warrants issued on March 28, 2023 (the \"March Warrants\" and together with the February Warrants, the \"Warrants\"). \n\n\n\n\n\n\n\nThe Company has amended the exercise price of all of the February Warrants to $0.60 and the expiry date to March 29, 2026 and the exercise price of 1,577,156 of the March Warrants to $0.60 and the expiry date to April 27, 2026 (each being 30 days from the current expiry dates), in order to provide an incentive to the holders to exercise their Warrants. The Warrants had an exercise price of CAD $4.00 per common share and the February Warrants and March Warrants were set to expire on February 27, 2026 and on March 28, 2026, respectively. All other terms and conditions of the Warrants remain unchanged. The warrant amendments remain subject to final acceptance by the TSXV.The Company also announces an update to the borrowing transaction of US$300,000 (the \"Loan\") with an unsecured promissory note issued to 579 Max, Ltd. (the \"Lender\") previously announced on February 21, 2026. In connection with the Loan, the Lender will now be granted 680,250 bonus warrants (the \"Warrants\") having an exercise price of C$0.60 per share and an expiry date of February 12, 2027. The Loan carries an annual interest rate of 14% and is scheduled to mature on February 12, 2027. The Loan and issuance of Warrants remain subject to final TSXV acceptance.The warrant am...