Permex Petroleum (OTC: OILCF) disclosed it received a Notice of Default from holders of secured convertible debentures issued November 1, 2024, with aggregate principal of $4,276,389 and 10% annual interest.
The company missed filing audited annual financial statements for year ended September 30, 2025, by the regulatory deadline of January 28, 2026. Debenture holders demand immediate payment and gave a deadline of February 18, 2026 for payment or alternative assurances before seeking enforcement, which may include repossession of collateral.
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Debentures principal $4,276,389
Interest rate 10% per annum
Defaulted on payments since November 2, 2025
Missed audited financials filing deadline January 28, 2026
Debenture holders may seek collateral repossession after February 18, 2026
01/30/2026 – 07:12 PM
Vancouver, British Columbia–(Newsfile Corp. – January 30, 2026) – Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) (“Permex” or the “Company”) has received a Notice of Default from the holders of its secured convertible debentures (the “Debentures”) which were issued on November 1, 2024. The Debentures have an aggregate principal of $4,276,389 with interest accruing thereon at 10% per annum, and are secured by the Company’s assets.
In a letter dated January 28, 2026, Mr. Jeffrey E. Eberwein, on behalf of himself and as collateral agent for all of the other debenture holders, notified Permex that it was in default of its obligations under the Debentures by failing to make any payments on or before November 2, 2025, and made demand for immediate payment of all outstanding indebtedness under the Debentures. Mr. Eberwein further advised that unless payment is provided or alternative assurances and/or arrangements made by February 18, 2026, the Debenture holders will seek to enforce its rights and remedies under the Debentures, which may include repossession of its collateral.
The Company reports that it has not filed its audited annual financial statements for the year ended September 30, 2025, the related management’s discussion and analysis, and its Form 52-109FV1 CEO and CFO certifications of annual filings by the regulatory deadline of January 28, 2026.
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FAQ
Permex announced it received a Notice of Default from holders of secured convertible debentures. According to Permex, the debentures are in default for missed payments since November 2, 2025, and holders demand immediate payment of outstanding indebtedness.
The debentures carry an aggregate principal of $4,276,389 with interest at 10% per annum. According to Permex, the amount was issued November 1, 2024, and interest accrues on the outstanding principal.
Debenture holders set a February 18, 2026 deadline for payment or alternative assurances. According to Permex, failure to comply may prompt enforcement actions, which may include repossession of secured collateral by the debenture holders.
Permex said it did not file audited annual financial statements, MD&A, and CEO/CFO certifications by the regulatory deadline of January 28, 2026. According to Permex, those filings remain outstanding as of the announced date.