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Petrox Resources Announces Further Extension of LOI for the Proposed Acquisition of SSGE Bio-Energy Company Limited
Calgary, Alberta--(Newsfile Corp. - April 3, 2025) - Petrox Resources Corp. (TSXV: PTC) (" Petrox...
About this update from Petrox Resources Corp.
[{"type":"text","content":"Petrox Resources Announces Further Extension of LOI for the Proposed Acquisition of SSGE Bio-Energy Company LimitedCalgary, Alberta--(Newsfile Corp. - April 3, 2025) - Petrox Resources Corp. (TSXV: PTC) (\"Petrox\") is pleased to announce that, further to its news releases of May 24, 2024, October 1, 2024 and December 31, 2024 in which Petrox announced the signing of a non-binding letter of intent to complete a transaction (the \"Proposed Transaction\") whereby it will acquire all of the shares of SSGE Bio-energy Company Limited (\"SSGE\") and the subsequent extensions to the deadline to enter into a definitive agreement with respect to the Transaction, the parties have further extended the deadline to enter into such a definitive agreement to September 30, 2025, failing which the LOI will be terminated.About PetroxPetrox is a publicly traded Canadian junior oil and gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian Basin. Petrox currently has a production property in Fletwode, Saskatchewan that produces approximately 17 bbls/d.The Common Shares of Petrox are listed and posted for trading on the TSX Venture Exchange under the trading symbol, \"PTC\". FOR FURTHER INFORMATION, PLEASE CONTACT:Petrox Resources Corp.Edwin Tam, President and CEO or Alan Chan, CFOTelephone: (403) 270 - 2290Facsimile: (403) 228 - 3013Website: www.petroxresourcescorp.comReader AdvisoryNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Petrox should be considered highly spe...