Petro-Victory Energy Corp. Announces Closing of Shares for Debt Transactions

About this update from Petro-victory Energy Corp Class A

/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, June 30, 2026 /CNW/ - Petro-Victory Energy Corp. (TSX-V: VRY) ("Petro-Victory" or the "Company") is pleased to announce that, further to its news releases dated March 22, 2026, April 9, 2026 and April 16, 2026, the Company has completed its previously announced shares-for-debt transactions (the "Shares-for-Debt Transactions"). Pursuant to the Shares-for-Debt Transactions, the Company has issued an aggregate of 10,804,434 of Class A voting shares of the Company ("Common Shares") at a deemed price of C$0.68 per Common Share as full and final settlement of outstanding indebtedness in the aggregate amount of amount of US$5,289,851. The Shares-for-Debt Transactions were undertaken by the Company in order to preserve cash and strengthen its balance sheet. The Common Shares issued pursuant to the Shares-for-Debt Transactions are subject to a four-month hold period, which expires on October 31, 2026 in accordance with applicable securities laws and TSX Venture Exchange ("TSXV") policies. Following the completion of the Shares-for-Debt Transactions, the Company has 32,729,703 Common Shares and 4,333,724 Class B restricted voting shares issued and outstanding. An aggregate of 4,075,950 bonus warrants that were issued in connection with the loans were cancelled concurrent with the completion of the Shares-for-Debt Transactions. Completion of the Shares-for-Debt Transactions remains subject to TSXV final acceptance. The Company also intends to settle by the issuance of Common Shares an aggregate of $1 million in directors fees currently payable to the directors of the Company and $1 million in deferred compensation to the executives of the Company, that were each validly earned and accrued in respect of services previously rendered to the Company from 2022 until current, but remain unpaid; however, in accordance TSXV policies, the Company must first obtain disinterested shareholder approval for these issuances. The Company intends to seek approval at its next annual general and special meeting of shareholders expected to be held on August 6, 2026. Related Party Participation The Shares-for-Debt Transactions included the settlement of the principal amount and unpaid interest o...

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