Mehran Ehsan - Nov 10, 2022 Form 3 Insider Report for Permex Petroleum Corp (OILCF)

Role
CEO, President, Director
Signature
/s/ Mehran Ehsan
Stock symbol
OILCF
Transactions as of
Nov 10, 2022
Transactions value $
$0
Form type
3
Date filed
11/10/2022, 08:08 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding OILCF Common Stock 34.3K Nov 10, 2022 Direct
holding OILCF Common Stock 41.7K Nov 10, 2022 By N.A. Energy Resources Corporation F1
holding OILCF Common Stock 417 Nov 10, 2022 By spouse
holding OILCF Common Stock 11.1K Nov 10, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding OILCF Employee Stock Option (right to buy) Nov 10, 2022 Common Stock 11.3K $21.90 Direct F3
holding OILCF Employee Stock Option (right to buy) Nov 10, 2022 Common Stock 12.5K $10.51 Direct F3
holding OILCF Common Stock Warrants (right to buy) Nov 10, 2022 Common Stock 11.1K $9.60 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person is the President and Chief Executive Officer of N.A. Energy Resources Corporation and in such capacity has the right to vote and dispose of the securities held by such entity.
F2 The reporting person was issued a secured convertible debenture in the principal amount of CAD$100,000, which debenture is convertible at the holder's option into units of the Company at US$7.20 (CAD$9.00) per unit. Each unit will be comprised of one common share of the Company and one common share purchase warrant. Each common share purchase warrant entitles the reporting person to acquire one additional common share for a period of three years at an exercise price of US$9.60 (CAD$12.00). As of the date of this report, the reporting person has not elected to convert the secured convertible debenture, and as a result, no units have been issued.
F3 The option has fully vested.
F4 The reported shares are issuable to the reporting person upon exercise of a warrant that will be issued to the reporting person upon conversion of a secured convertible debenture. See footnote (2).

Remarks:

Exhibit 24.1 - Power of Attorney