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.