Permex Petroleum Corp: debt financing — Permex receives $4.28M debenture default notice, CEO resigns, annual financials unfiled

Permex Petroleum Corp

Default on $4,276,389 secured convertible debentures (10% interest) for failing to make payments due Nov 2, 2025.
Debenture holders demand immediate payment; repossession of collateral possible if no arrangement by Feb 18, 2026.
CEO, President, and Interim CFO Bradley Taillon resigned effective Jan 12, 2026; replaced by Chairman Richard Little as interim CEO and CFO.
Company failed to file audited annual financial statements for year ended Sep 30, 2025 by regulatory deadline of Jan 28, 2026.
Permex evaluating strategic opportunities amid leadership transition and default.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Permex Petroleum Corp faced acceleration on convertible notes of aggregate principal of $4,276,389 with Jeffrey E. Eberwein, as collateral agent for all Debenture holders at 10% per annum.

Instrument: convertible notes
Principal: aggregate principal of $4,276,389
Counterparty: Jeffrey E. Eberwein, as collateral agent for all Debenture holders
Rate: 10% per annum
Event: acceleration

Exact text from the filing

of its secured convertible debentures (the “Debentures”) which were issued on November 1, 2024. As of the date of the Notice, the Debentures had an aggregate principal of $4,276,389 with interest accruing thereon at 10% per annum, and are secured by the Company’s assets. In the Notice, Mr. Jeffrey E. Eberwein, on behalf of himself and as collateral agent for

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Source: SEC EDGAR

accession 0001493152-26-007974

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