Permex Petroleum Corporation (TSE:OIL) has released an update.
Permex Petroleum Corporation has applied to the BCSC for a partial revocation of a cease trade order and plans to proceed with a second tranche of its private placement, offering up to $865,000 of convertible debenture units. The proceeds will be used for regulatory compliance and operational continuity, with the goal of reinstating trading of its shares. Each unit includes a debenture and warrants, with terms allowing conversion into company shares.
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