Petrox Announces Increase and Extension to Private Placement

Calgary, November 18, 2025 - Petrox Resources Corp. (TSXV: PTC) (the "Corporation" or "Petrox") is pleased to announce an increase of its offering (the "Offering") of convertible debentures ("Debentures") previously announced on October 6, 2025. The Corporation previously announced that Debentures having an aggregate principal amount of a minimum of $250,000 and a maximum of $350,000 would be issued under the Offering. The new maximum principal amount is $400,000.

The increase in the financing was subject to the approval of the TSX Venture Exchange, which was obtained. The TSX Venture Exchange has also granted a short extension of the deadline to close the Offering. The new closing deadline for the Offering is November 24, 2025.

The Debentures shall mature one year from the date of issue and shall bear no interest. The Corporation may prepay the indebtedness under the Debentures at any time upon 30 days prior written notice, without penalty.

The Corporation intends to complete a consolidation of the common shares of its share capital (the "Common Shares") on 10:1 basis (the "Consolidation"). Upon completion of the Consolidation, the principal of the Debentures will automatically convert into Common Shares at a conversion price of $0.05 per share, resulting in the issuance of 8,000,000 Common Shares. The Debentures and the Common Shares issuable upon the conversion of the Debentures will be subject to a four month hold period.

The Offering will be completed on a private placement basis pursuant to exemptions from prospectus requirements.

The Corporation may pay finder's fees on all or a portion of the private placement to eligible persons seeking subscribers to the financing, all in accordance with applicable securities laws and the policies of the Exchange.

100% of the net proceeds are expected to be used for working capital and towards the funding on future acquisitions. Although the Corporation intends to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.

About Petrox

Petrox is a publicly traded Canadian junior oil and gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian Basin. Petrox currently has a production property in Fletwode, Saskatchewan that produces approximately 17 bbls/d.

The Common Shares of Petrox are listed and posted for trading on the TSX Venture Exchange under the trading symbol, "PTC".

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the commencement, timing and scope of the clinical trial program outlined above and that it will be conducted as expected. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: operational matters, historical trends, current conditions and expected future developments, access to financing as well as other considerations that are believed to be appropriate in the circumstances. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275064