September 09, 2024 5:51 PM EDT | Source: Permex Petroleum Corporation
Based in Vancouver, British Columbia, Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) (“Permex” or the “Company“) is pleased to share that the common shares of the Company will resume trading on the Canadian Securities Exchange (the “Exchange“) effective September 9th, 2024. This reinstatement follows the revocation of the cease trade order (the “CTO“) initially issued by the British Columbia Securities Commission on April 16, 2024.
The CTO was initiated due to the Company’s failure to submit its audited and interim financial statements, management’s discussions and analyses, and related certifications for the year ended September 30, 2023, and the interim period ended December 31, 2023 (collectively referred to as the “CTO Financial Statements“).
The CTO Financial Statements have now been filed and are accessible for review on the SEDAR filing system. Additionally, the Company has also filed interim financial statements, management’s discussion and analysis, and certifications for the interim periods ending March 31, 2024, and June 30, 2024, respectively.
Furthermore, the Company has decided to terminate its non-brokered private placement (the “Prior Offering“) that was previously announced on multiple occasions and is planning to proceed with a non-brokered private placement (the “Current Offering
The proceeds from the Current Offering will be allocated towards drilling and development activities, potential future acquisitions, and general working capital requirements. The Units offered in the Current Offering will be exclusively available to accredited investors under certain criteria.
It is important to note that none of the securities to be offered in either the Current Offering or the Prior Offering have been or will be registered under the U.S. Securities Act. Therefore, they may not be offered or sold in the United States absent registration or exemption from the registration requirements.
Permex Petroleum Corporation focuses on low-cost development of assets for sustainable growth in the oil and gas sector, with operations in the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico. Through its subsidiary, Permex Petroleum US Corporation, the Company operates on private, state, and federal land. For more information, please visit www.permexpetroleum.com.
This press release may contain forward-looking information, subject to certain risks and uncertainties, which could cause actual results to differ from those anticipated. The Company does not undertake to update any forward-looking statements or information unless required by applicable securities laws. We seek safe harbor.
Source version of this press release is available at https://www.newsfilecorp.com/release/222760
