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PERMEX PETROLEUM CORP - $OILCF STOCK NEWS

Welcome to our dedicated page for PERMEX PETROLEUM news (Ticker: $OILCF), a resource for investors and traders seeking the latest updates and insights on PERMEX PETROLEUM stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect PERMEX PETROLEUM's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of PERMEX PETROLEUM's position in the market.

Rhea-AI Summary

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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-1.41%
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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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7.18%
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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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7.18%
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Permex Petroleum Corporation announces consolidation of shares
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4.28%
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1.64%
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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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-1.05%
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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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PERMEX PETROLEUM CORP

OTC:OILCF

OILCF Rankings

OILCF Stock Data

2.26M
332.23k
8.15%
Crude Petroleum Extraction 
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
Dallas