Welcome to our dedicated page for Permex Petroleum Corporation news (Ticker: OILCF), a resource for investors and traders seeking the latest updates and insights on Permex Petroleum Corporation stock.
Permex Petroleum Corporation (OILCF) is a junior oil and gas company with assets in the Permian Basin of West Texas and New Mexico. The company focuses on low-cost development and Blue-Sky projects for growth.
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Permex Petroleum announced the appointment of Mr. Bradley Taillon as the new President and Chief Executive Officer. Mr. Taillon brings extensive experience in the oil & gas industry, particularly in the US and Permian Basin. His appointment follows the resignation of Mr. Mehran Ehsan, who will remain on the Board of Directors. With a strong track record in operations and finance, Mr. Taillon aims to build upon Permex's success, focusing on production potential, reserve expansion, and shareholder value growth.
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Permex Petroleum successfully closed a convertible debenture financing, raising US$500,000 through the issuance of 500 Units. Each Unit includes a Debenture and a Warrant, with the Debentures maturing in one to three months if certain conditions are not met. The Company plans to use the proceeds for general working capital and potential mergers and acquisitions.
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Permex Petroleum Corporation provides an update on the management cease trade order issued by the British Columbia Securities Commission due to delayed annual financial filings. The company cites lack of funds as the reason for the delay but is in the process of engaging its auditor to rectify the situation. Permex intends to follow the Alternative Information Guidelines and aims to file the Annual Filings by March 29, 2024.
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Permex Petroleum Corporation announces a convertible debenture financing of up to US$20,000,000, consisting of debentures and warrants, with the proceeds intended for general working capital and potential mergers and acquisitions. The debentures will mature in one year or three months if certain conditions are not met, with an interest rate of 10% payable in cash or shares. The offering is available to accredited investors or non-US persons and will be subject to a four-month hold period.
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Permex Petroleum Corporation announces a private placement of convertible debenture units for gross proceeds of up to US$20,000,000. Each unit consists of a debenture and a common share purchase warrant. The debentures will bear simple interest at a rate of 10% and mature in one year. The proceeds will be used for general working capital purposes and potential mergers and acquisitions.
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Permex Petroleum Corporation announces consolidation of shares
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Permex Petroleum Corporation extends its early warrant exercise program until June 30, 2023. The program offers an amended exercise price of USD$2.86 per warrant and the issuance of one additional common share purchase warrant for each exercised warrant. Incentive warrants can be purchased for USD$4.50 per share. Pre-funded warrants are also available. The securities issued in connection with the program will be subject to a four-month hold period and will not be registered under the United States Securities Act of 1933.
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Permex Petroleum Corporation has retained Renmark Financial Communications USA Inc. to provide investor relations services. Renmark will employ various communication methods to increase market and investor awareness for Permex, including organizing virtual non-deal roadshows and ensuring timely disclosure of company information. The initial term of the agreement is 7 months, with a monthly fee of USD$9,000.
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FAQ
What is the current stock price of Permex Petroleum Corporation (OILCF)?
The current stock price of Permex Petroleum Corporation (OILCF) is $2.6989 as of February 27, 2025.
What is the market cap of Permex Petroleum Corporation (OILCF)?
The market cap of Permex Petroleum Corporation (OILCF) is approximately 2.1M.
Where does Permex Petroleum Corporation operate?
Permex operates in the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico.
What is the focus of Permex Petroleum Corporation?
The company focuses on low-cost development of Held by Production assets for growth.
What are Blue-Sky projects?
Blue-Sky projects refer to future ventures of Permex Petroleum Corporation for scale growth.
How can I learn more about Permex Petroleum Corporation?
For more information, visit the official website of Permex Petroleum Corporation.
What is the contact information for Permex Petroleum Corporation?
You can contact Brad Taillon, the Chief Executive Officer, at (469) 804-1306.
Is Permex Petroleum Corporation publicly traded?
Yes, Permex Petroleum Corporation is publicly traded under the symbol OILCF.
What recent announcement did Permex Petroleum Corporation make?
Permex Petroleum Corporation announced its intention to complete a private placement of convertible debenture units.
Permex Petroleum Corporation