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Permex Petroleum Corp files final prospectus; launches initial public offering

The offer is being made via a syndicate of agents led by Canaccord Genuity and including Gravitas Securities Inc
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Permex has launched its planned initial public offering (IPO)

Permex Petroleum Corporation (CSE:OIL) said it had filed a final prospectus as it launched its planned initial public offering (IPO).

The offering consists of a minimum of 5mln shares at 50 cents each for gross proceeds of C$2.5mln and a maximum of 20mln shares for gross proceeds of C$10mln.

The offer is being made via a syndicate of agents led by Canaccord Genuity and including Gravitas Securities Inc.

There is an over-allotment option for the agents for 60 days after closing to buy up to a further number of shares equal to 15% of the shares offered at 50 cents.

Additional gross proceeds of C$1.5mln will be raised if the over-allotment option is exercised in full.

Closing of the offering is expected to occur on or about April 6 this year, when the offered shares are expected to commence trading on the Canadian Securities Exchange (CSE) under the symbol 'OIL'.

The firm made the caveat that there can be no assurance that the offering will be completed.

Permex Petroleum describes itself as a uniquely positioned junior oil  and gas company with assets and operations across the Permian Basin of west Texas and the Delaware Sub-Basin of south east New Mexico.



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