Conyers Dill & Pearman has provided British Virgin Islands (BVI) law advice to Petro-Victory Energy Corp on its initial public offering (IPO) listing on the TSX Venture Exchange consisting of units at a price of CAD0.40 per unit (22p) and gross proceeds of CAD25m.
Each unit comprises one Class A common share and one half of one warrant. Each warrant entitles the holder thereof to purchase one common share at a price of CAD0.50 per warrant share.
The company is a South American-focused oil and gas company with significant exploration and development opportunities in Paraguay and potential acquisitions in Brazil and Guyana. The company has been accumulating geophysical and geographical data on Paraguay since 2006, and with the help of Conyers successfully completed the IPO and raised funds for a 2014 drilling campaign now under way.
Conyers’ BVI office advised on the matter, working alongside Davis, Andrews Kurth and Nortron Rose Fulbright Canada. Cora S Miller is counsel in the corporate department and her practice covers all areas of corporate and finance with particular focus on corporate reorganisations, mergers and acquisitions, mining, oil and gas, continuations, joint ventures and regulatory governance.