Kyuden International Corporation agreed to acquire 25% stake in Petrogreen Energy Corp from PetroEnergy Resources Corporation (PSE:PERC) on September 15, 2022. The total acquisition is for 25% equity stake in the form of Share Subscription Agreement and Shareholders Agreement. PetroGreen Energy Corporation will issue primary shares in favor of KIC equal to 25% equity stake in PGEC.

The transaction has been approved by PetroEnergy Resources Corporation board of directors.