Petro-Victory Energy Settles Debt with Share Issuance

Oil and gas company amends previously announced shares-for-debt transaction to settle up to $6.2 million in outstanding obligations.

Apr. 16, 2026 at 5:18am

Got story updates? Submit your updates here. ›

A photorealistic studio still life featuring a stack of oil barrels, a wrench, and a polished metal gear against a clean, monochromatic background, conceptually representing the oil and gas industry and corporate strategy.Petro-Victory's debt settlement through share issuance aims to preserve cash for the company's ongoing oil and gas operations in Brazil.Dallas Today

Petro-Victory Energy Corp. has announced revised terms to settle up to $6.2 million in outstanding debt owed to directors, officers, and other creditors. The company will issue up to 12.6 million common shares at a deemed price of C$0.68 per share to eliminate the obligations. The shares-for-debt transactions are subject to approval from the TSX Venture Exchange.

Why it matters

The debt settlement allows Petro-Victory to preserve cash for ongoing operations and focus resources on its oil and gas activities in Brazil. However, the transactions with related parties will require the company to comply with regulations around minority shareholder protections.

The details

Petro-Victory initially announced a $1 million shares-for-debt transaction in March 2026, which has now been expanded to cover up to $6.2 million in total obligations. The company will issue the new common shares at a deemed price of C$0.68 per share. Closing of the transactions is subject to TSXV approval, and the issued shares will be subject to a four-month hold period.

  • The initial $1 million shares-for-debt transaction was announced on March 22, 2026.
  • The expanded $6.2 million transaction was announced on April 16, 2026.

The players

Petro-Victory Energy Corp.

An oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil.

TSX Venture Exchange

The stock exchange where Petro-Victory's common shares trade under the ticker symbol VRY.

Got photos? Submit your photos here. ›

What’s next

Petro-Victory intends to close the shares-for-debt transactions as soon as practicable, pending approval from the TSX Venture Exchange.

The takeaway

Petro-Victory's debt settlement through share issuance demonstrates the company's efforts to strengthen its financial position and focus resources on its core oil and gas operations in Brazil, though the related party nature of some transactions requires regulatory compliance.