Description of Common Shares of Permex Petroleum Corporation
Permex Petroleum Corporation has authorized an unlimited number of common shares, with 551,503 issued and outstanding as of January 14, 2025. Each common share gives its holder the right to vote at shareholder meetings, receive dividends if declared, and share in the company's remaining assets if it is liquidated. The company may buy back or redeem its shares at terms set by its Board of Directors. The common shares do not have pre-emptive, conversion, call, or assessment rights.
Exhibit 4.2
DESCRIPTION OF THE REGISTRANT’S COMMON SHARES
The authorized share capital of Permex Petroleum Corporation (the “Company”) consists of an unlimited number of common shares without par value (the “Common Shares”). As of January 14, 2025, 551,503 common shares were issued and outstanding.
Each common share carries the right to attend and vote at all general meetings of the Company’s shareholders. Holders of the common shares are entitled to dividends, if any, as and when declared by the Company’s Board of Directors and to one vote per common share at meetings of the Company’s shareholders. In addition, upon liquidation, dissolution or winding-up of the Company, holders of common shares may share, on a pro rata basis, the remaining assets of the Company as are distributable to holders of common shares of the Company. The Company may, subject to certain exceptions, purchase, redeem or otherwise acquire any of its shares at the price and upon the terms determined by the Company’s Board of Directors. The Company’s Common Shares are not subject to call or assessment rights, rights regarding purchase for cancellation or surrender, or any pre-emptive or conversion rights.
