Permex Petroleum Corporation (TSE:OIL) has released an update.
Permex Petroleum Corporation successfully closed a second tranche of its non-brokered private placement, raising $865,000, contributing to a total of $1.365 million in gross proceeds. The funds are earmarked for clearing outstanding financial obligations and continuing operations, with an aim to fully resolve a cease trade order and resume trading on the Canadian Securities Exchange. Investors in this tranche received convertible debentures paired with share purchase warrants, under terms set by a partial revocation order from the British Columbia Securities Commission.
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