PetroEnergy Resources Corporation (PSE:PERC) intends to acquire additional 7.5% stake in PetroGreen Energy Corporation from EEI Power Corporation on April 20, 2023. The share purchase agreement has signed on April 24, 2023. PetroEnergy Resources Corporation will acquire 213.675516 million shares in PetroGreen Energy.

The consideration shall be paid in cash. The board of PetroEnergy Resources Corporation has approved the deal on April 20, 2023. The consideration amount will pay in tranches with full payment expected by August 2023.