Business
PetroTal Announces Warrant Exercises, PSU Share Issuance and Total Voting Rights
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - December 20, 2022) - PetroTal Corp. (TSXV:...
About this update from Petrotal Corp.
[{"type":"text","content":"PetroTal Announces Warrant Exercises, PSU Share Issuance and Total Voting RightsCalgary, Alberta and Houston, Texas--(Newsfile Corp. - December 20, 2022) - PetroTal Corp. (TSXV: TAL) (AIM: PTAL) and (OTCQX: PTALF) (\"PetroTal\" or the \"Company\") announces the exercise of Performance Warrants and issuance of Common Shares to employees pursuant to annually vested performance share unit plan (\"PSU\").Exercise of Performance WarrantsPetroTal received notices to exercise 389,384 (net basis) Performance Warrants at a price of US$0.1869 per Common Share. Following the warrant exercises, the Company will have no further Performance Warrants outstanding. PSU IssuePetroTal also announces that it has issued an aggregate of 2,177,039 Common Shares to employees pursuant to the annual obligation to issue vested performance share units under the Company's performance and restricted share unit plan, as approved by the TSX Venture Exchange on December 12, 2019. No Common Shares were issued to Directors or Officers of the Company.Further details regarding the Company's PSU plan are set out in the management information circular of the Company dated August 3, 2022, which is available on SEDAR at www.sedar.com.Application will be made for a total admission of 2,566,423 Common Shares to trading on AIM (\"Admission\"), which will rank pari passu with existing Common Shares, expected to occur on or around December 22, 2022.Following Admission, PetroTal will have 862,208,996 common shares issued and there are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.ABOUT PETROTALPetroTal is a publicly traded, tri‐quoted (TSXV: TAL)( AIM: PTAL) and (OTCQX: PTALF) oil and gas development and production Company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru. PetroTal's flagship asset is its 100% working interest in Bretana oil field in Peru's Block 95 where oil production was initiated in June 2018. In early 2020, Petrotal became the second largest crude oil producer in Peru. The Company's management team has significant experience in developing and exploring for oil in Peru and is led by a Bo...