/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, Dec. 28, 2017 /CNW/ - Richard Gonzalez, Executive Chairman of
Petro-Victory Energy Corp. (TSX-V: VRY), ("Petro-Victory" or the
"Company"), has announced that he has sold 6,400,000 shares of
voting common stock (the "Common Shares") of the Company by way of
a private agreement, at a price of Cdn. $.03 per share for aggregate consideration of
Cdn. $192,000.
The 6,400,000 Common Shares sold represent approximately 2.4% of
the outstanding Common Shares of the Company (assuming conversion
of all restricted voting shares). Prior to this transaction,
Gonzalez held 36,310,912 Common Shares and 52,135,746 Restricted
Voting Shares of the Company representing approximately 20% of the
issued and outstanding voting securities of the Company on a
non-diluted basis and 33% of the issued and outstanding securities
of the Company, assuming conversion of the Restricted Voting
Shares.
The restricted voting shares are convertible on a 1:1 ratio into
Common Shares, at the holder's option.
Gonzalez now holds 29,910,912 Common Shares and 52,135,746
Restricted Voting Shares of the Company representing approximately
17% of the issued and outstanding voting securities of the Company
on a non-diluted basis and 31% of the issued and outstanding
securities of the Company, assuming conversion of the Restricted
Voting Shares.
For further information or to obtain a copy of the report to be
filed on SEDAR in respect of such transaction, please contact:
Richard Gonzalez, Executive
Chairman
richard.gonzalez@petrovictoryenergy.com
Richardson, TX
USA
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Advisory Regarding Forward-Looking Statements
In the interest of providing Petro-Victory's shareholders and
potential investors with information regarding Petro-Victory,
including management's assessment of Petro-Victory's future plans
and operations, certain statements in this press release are
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian securities legislation (collectively, "forward-looking
statements"). In some cases, forward-looking statements can be
identified by terminology such as "anticipate", "believe",
"continue", "could", "estimate", "expect", "forecast", "intend",
"may", "objective", "ongoing", "outlook", "potential", "project",
"plan", "should", "target", "would", "will" or similar words
suggesting future outcomes, events or performance. The
forward-looking statements contained in this press release speak
only as of the date thereof and are expressly qualified by this
cautionary statement.
Specifically, this press release contains forward-looking
statements relating to but not limited to: our business strategies,
management team, oil and gas production, plans and objectives, and
drilling, testing and exploration expectations. These
forward-looking statements are based on certain key assumptions
regarding, among other things: the completion of our offerings; our
ability to add production and reserves through purchases and our
exploration activities; the receipt, in a timely manner, of
regulatory and other required approvals for our operating
activities; the availability and cost of labor and other industry
services; the continuance of existing and, in certain
circumstances, proposed tax and royalty regimes; and current
industry conditions, laws and regulations continuing in effect (or,
where changes are proposed, such changes being adopted as
anticipated). Readers are cautioned that such assumptions, although
considered reasonable by Petro-Victory at the time of preparation,
may prove to be incorrect.
Actual results achieved will vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
The above summary of assumptions and risks related to
forward-looking statements in this press release has been provided
in order to provide shareholders and potential investors with a
more complete perspective on Petro-Victory's current and future
operations and such information may not be appropriate for other
purposes. There is no representation by Petro-Victory that actual
results achieved will be the same in whole or in part as those
referenced in the forward-looking statements and Petro-Victory does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by applicable securities law.
Not for distribution to U.S. Newswire Services or for
dissemination in the United
States. Any failure to comply with this restriction may
constitute a violation of U.S. securities laws.
SOURCE Petro-Victory Energy Corp.