$10,000,000 Million CAD Private Placement Prices $1,000 US Convertible Debenture UnitsThe Unit Features a Debentures Certificate with a Duration of 36 Months that Automatically Converts into Resulting Issuer Shares Twenty (20) Trading Days Following the UplistingThe Unit Also Features a Purchase Warrant Certificate for 675 shares at C$2.00 per Share for a Duration of 18-Months with an Acceleration Exercise Price of $4.00 USD and Volume Trading Vancouver, British Columbia--(Newsfile Corp. - December 10, 202 ...

Core Points - Permex Petroleum Corporation has successfully closed a private placement of convertible debenture units, raising gross proceeds of US$2,000,000 [1][2] Group 1: Offering Details - The Offering consisted of 2,000 Units, each comprising one convertible debenture with a principal amount of US$1,000 and 393 common share purchase warrants [2] - The Debentures will mature one year from the issuance date and bear simple interest at a rate of 10%, payable on the Maturity Date or upon repayment [3] - Holders of the Debentures can convert the principal and accrued interest into Shares at a conversion price of US$2.54, subject to certain conditions [4] Group 2: Use of Proceeds - The proceeds from the Offering are intended for general working capital purposes [5] Group 3: Subscriber Information - Kent Lindemuth acquired all 2,000 Units for a total consideration of US$2,000,000, increasing his ownership in the company to 81.71% of the issued and outstanding Shares on a partially-diluted basis [10] Group 4: Company Overview - Permex Petroleum is a junior oil and gas company with operations in the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico, focusing on low-cost development and sustainable growth [12]