Permex Petroleum Announces Repricing of Previously Announced Private Placement
Summary
The Debentures will automatically convert into Shares at the Conversion Price in the event the Company completes a financing of Shares for aggregate gross proceeds of at least US$7,500,000, where the price per Share sold in such financing is equal to, or greater than, the Conversion Price.The proceeds of the Current Offering are expected to be used for drilling and development, any future acquisition transactions the Company may engage in, and general working capital purposes.The Units being offered in the Offering will be offered only to persons who either qualify as an "accredited investor" as defined in Rule 501(a) of Regulation D under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or who are located outside of the United States and are not a "U.S. person" as defined in Regulation S under the U.S. Securities Act. In connection with the Offering, the Company may pay finders fees as permitted by the policies of the Exchange. This news release is being issued pursuant to and in accordance with Rule 135c under the U.S. Securities Act.Permex Petroleum (CSE: OIL) (FSE: 75P) is a uniquely positioned junior oil & gas company with assets and operations across the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico. Such forward-looking information and forward looking statements include, without limitation, the completion of the Offering and the use of proceeds from the Offering.Neither forward-looking information or forward-looking statements are a guarantee of future performance and are each based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, that: the Company will complete the Offering as anticipated; there will be no changes in the Companys business plans; and that the Company will be able to use the proceeds from the Offering as anticipated. We seek safe harbor.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223787