Permex Petroleum Corp: debt financing — Permex closes $2M convertible debenture placement; Lindemuth stake rises to 81.7%

Permex Petroleum Corp

Issued 2,000 units at $1,000 each, comprising 10% senior secured convertible debentures and 786,000 warrants.
Each warrant exercisable at $2.54 for 5 years; debentures mature July 11, 2026, interest payable in cash or shares.
Proceeds from the private placement to be used for drilling, potential acquisitions, and working capital.
Investor Kent Lindemuth now holds 81.71% of shares on a partially-diluted basis, up from 75.24%.
Registration rights agreement filed with SEC; debentures automatically convert if Company raises $7.5M+ equity.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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 incurred convertible notes of aggregate principal amount of $2,000,000 with an accredited investor at simple interest at a rate of 10% maturing July 11, 2026.

Instrument: convertible notes
Principal: aggregate principal amount of $2,000,000
Counterparty: an accredited investor
Rate: simple interest at a rate of 10%
Maturity: July 11, 2026
Event: incurrence

Exact text from the filing

On July 11, 2025, Permex Petroleum Corporation (the “Company”) issued an aggregate of 2,000 convertible debenture units (the “Units”) to an accredited investor in a private placement (the “Private Placement”) for an aggregate purchase price of $2,000,000.

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Source: SEC EDGAR

accession 0001641172-25-019944

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