Permex Petroleum (CSE: OIL) has announced the resumption of trading for its common shares on the Canadian Securities Exchange, effective September 9th, 2024. This follows the revocation of a cease trade order issued on April 16, 2024, due to the company’s failure to file required financial statements. Permex has now filed the necessary financial documents, which are available on the SEDAR filing system.
The company has also terminated its previously announced private placement and introduced a new non-brokered private placement of up to 18,635 convertible debenture units. Each unit consists of a US$1,000 debenture and 245 warrants. The debentures will mature in one year, bearing 15% simple interest, and can be converted into shares at US$4.08. Proceeds from this offering are intended for drilling, development, potential acquisitions, and working capital.
Permex…
