04:30 PM EDT, 09/24/2024 (MT Newswires) -- Petro-Victory Energy ( PTVRF ) on Tuesday said it borrowed an aggregate US$2.8 million and issued unsecured promissory notes to 579 Max Ltd., Chris Cooper, and an arm's length third party.

Each loan bears interest at an annual rate of 14% per annum and each ender was issued bonus warrants exercisable at $1.25.

Petro Victory Energy ( PTVRF ) is engaged in the acquisition, development, and production of crude oil and natural gas resources in Brazil.