Corporate ActionNov 5, 2026, 08:36 AM
MMEX Resources Converts $1.38M Debt to Equity; Refinery Permit Approved
AI Summary
MMEX Resources Corp announced the completion of debt conversion transactions with key consultants, converting approximately $1.38 million of obligations into 27,483,541,015 shares of common stock. Separately, its project affiliate Pecos UltraClean Refining, LLC received Texas Commission on Environmental Quality (TCEQ) approval for the Permit by Rule registration for the proposed UltraClean Refinery North facility. This regulatory milestone, along with prior approval for the South facility, positions the complex for a combined processing capacity of 60,000 barrels per day.
Key Highlights
- MMEX Resources Corp issued 27,483,541,015 shares of common stock to consultants and related parties.
- The debt conversion transactions converted approximately $1.38 million of outstanding consultant obligations into equity.
- Pecos UltraClean Refining, LLC received TCEQ approval for the Permit by Rule registration for the UltraClean Refinery North facility.
- The UltraClean Refinery North and South facilities will have an aggregate processing capacity of approximately 60,000 barrels of crude oil per day.
- The approved facilities are designed to produce 22,344 barrels per day of Ultra Low Sulfur Diesel.
Price Impact
More from MMEX