Petrox Resources closes power generation agreement assignment

Petrox Resources Corp. (TSXV: PTC) has closed the assignment of a Power Generation Development and Cooperation Agreement, the Calgary-based company announced, based on a press release dated September 30, 2026.

The transaction involved an assignment, novation and assumption agreement dated August 27, 2026, through which Petrox acquired all rights, interests and obligations held by certain arm's length parties under a Cooperation Agreement originally made effective July 16, 2026, among those parties, PCC Digital ULC and Bennu Holdings, LLC.

In connection with the closing, Petrox issued 3,000,000 common shares to the assignors at a deemed price of $0.19 per share, 1,000,000 common shares to PCC Digital ULC at the same price, and 100,000 common shares to an arm's length finder, also at $0.19 per share. Petrox additionally issued 1,000,000 common share purchase warrants to Bennu Holdings, LLC, each exercisable at $0.19 per share for a period of two years from the date of issuance.

The TSX Venture Exchange has accepted the transaction. All issued securities are subject to a statutory hold period expiring four months and one day from issuance. Following the closing, Petrox has 17,613,231 common shares issued and outstanding.

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