Calgary, Alberta--(Newsfile Corp. - September 30, 2026) - Petrox Resources Corp. (TSXV: PTC) ("Petrox" or the "Company") announces that, further to its news release of August 28, 2026, it has closed the assignment, novation and assumption agreement dated August 27, 2026 (the "Assignment Agreement") with certain arm's length unrelated parties (collectively, the "Assignors"), PCC Digital ULC ("PCC") and Bennu Holdings, LLC ("Bennu"), pursuant to which Petrox has acquired all of the Assignors' rights, interests and obligations under the Power Generation Development and Cooperation Agreement made effective July 16, 2026 among the Assignors, PCC and Bennu (the "Cooperation Agreement").
In connection with closing, the Company has issued:
(a) an aggregate of 3,000,000 common shares to the Assignors at a deemed price of $0.19 per share;
(b) 1,000,000 common shares to PCC at a deemed price of $0.19 per share;
(c) 1,000,000 common share purchase warrants to Bennu, each exercisable to acquire one common share of the Company at an exercise price of $0.19 for a period of two years from the date of issuance; and
(d) 100,000 common shares to an arm's length finder at a deemed price of $0.19 per share.
The transaction has been accepted by the TSX Venture Exchange. All securities issued are subject to a statutory hold period expiring four months and one day from the date of issuance. Following closing, the Company has 17,613,231 common shares issued and outstanding.
For further information, please contact:
Petrox Resources Corp.
Edwin Tam, President and CEO, or Alan Chan, CFO
Telephone: (403) 270-2290 Facsimile: (403) 228-3013
Website: www.petroxresourcescorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor shall there be any sale of the securities described in this news release in any jurisdiction in which such offer, solicitation or sale would be unlawful. "United States" and "U.S. person" have the meanings ascribed to them in Regulation S under the U.S. Securities Act.
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