Permex Petroleum Corp (TSE:OIL) has released an update.
Permex Petroleum Corp announced its plans to raise up to $20 million through a private placement of convertible debenture units, each including a $1,000 debenture and a share purchase warrant. The debentures come with a 10% interest rate and various maturity scenarios, and the raised funds are aimed at bolstering working capital and exploring potential mergers and acquisitions. The offering targets accredited investors and those outside of the United States, with a four-month hold period for the securities issued.
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