secwatch.observer — SEC 8-K summary
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Issuer:     Permex Petroleum Corp (—)
CIK:        0001922639
Form:       8-K
Filed at:   2024-04-22T23:59:59+00:00
Accession:  0001493152-24-015515
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Permex Petroleum issues $500k convertible debentures and warrants
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- $500,000 offering of 10% senior secured convertible debentures with common share purchase warrants.
- Maturity: earlier of 1 year or 3 months if no definitive M&A agreement within 3 months.
- Conversion at $3.40 per share; warrants exercisable at $4.08 per share for 5 years.
- Proceeds to be used for general working capital and potential mergers/acquisitions.
- Debentures rank senior to all existing/future debt, secured by general security agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1922639/000149315224015515/0001493152-24-015515-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1922639/000149315224015515/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015515

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