PetroGas Co.

10/28/2024 | Press release | Distributed by Public on 10/28/2024 05:41

Change in Certifying Accountants Form 8 K

Item 4.01 Changes in Registrant's Certifying Accountants.

(a)

Termination of Independent Registered Public Accounting Firm

On October 21, 2024, Petrogas Company (the "Company") dismissed Olayinka Oyebola & Co, Chartered Accountants ("OOC") as its independent registered public accounting firm. The Company's audit committee unanimously approved the decision to dismiss OOC.

There have been no "disagreements" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K) and no "reportable event" occurred (as that term is defined in Item 304(a)(1)(v) of Regulation S-K during the fiscal year ended March 31, 2024 and the subsequent interim period up to and including the date of OOC's dismissal between the Company and OOC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which, if not resolved to the satisfaction of OOC, would have caused them to make reference to the subject matter of the disagreement in connection with their report on the Company's financial statements for those periods.

(b)

Appointment of Independent Registered Public Accounting Firm

On October 24, 2024, the Company appointed Boladale Lawal & Co (Chartered Accountants) ("BLC") as its new independent registered public accounting firm to audit and review the Company's financial statements. During the two most recent fiscal years ended March 31, 2024 and 2023 and any subsequent interim periods through the date hereof prior to the engagement of BLC, neither the Company, nor someone on its behalf, has consulted BLC regarding

(i)

either: the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company's consolidated financial statements, and either a written report was provided to the Company or oral advice was provided that the new independent registered public accounting firm concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or

(ii)

any matter that was either the subject of a disagreement as defined in paragraph 304(a)(1)(iv) of Regulation S-K or a reportable event as described in paragraph 304(a)(1)(v) of Regulation S-K.