DALLAS, July 4, 2025 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) ("Petro-Victory" or the "Company") and Azevedo & Travassos Energia S.A. ("ATE") are pleased to announce the signing of a binding memorandum of understanding on July 2, 2025 ("MOU") pursuant to which Petro-Victory and ATE intend to complete an arm's length business combination by the acquisition by ATE of all of the issued and outstanding common shares of the Company (the "Transaction"). The Transaction is intended to combine the businesses and assets of ATE and the Company and result in the Company becoming a wholly owned subsidiary of ATE. Under the Transaction, the current shareholders of the Company will become shareholders of ATE. The combination of the Company and ATE is expected to increase shareholder value through the development of ATE's growth strategy with the supplementation of the Company's diversified portfolio of production and exploration assets.
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PETRO-VICTORY ENERGY CORP. AND AZEVEDO & TRAVASSOS ENERGIA S.A. SIGN BINDING MEMORANDUM OF UNDERSTANDING
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