Petro-Victory Energy Corp. has finalized a loan agreement dated August 28, 2018 with PPF 9, LLC to proceed with a financing of up to USD 10 million through the issuance of senior secured notes with bonus warrants (the "Bonus Warrants"). The Financing will bear interest at a rate of 9% per annum payable quarterly, commencing in October, 2018, and will have a maturity date of thirty-six (36) months after the initial close. It is anticipated that the Financing will be comprised of two or more loans. The initial loan of USD 4,000,000 is to be advanced in two tranches. The sum of USD 1,400,000 was advanced on August 29, 2018. A second tranche of USD 2,600,000 is to be advanced on a mutually agreeable date thereafter.

The Company and Patrick Yeghnazar, former CEO and a director, have mutually agreed to part ways. Richard F. Gonzalez has been appointed CEO.