The halt will remain in place until the beginning of normal trade on Friday, November 29, 2019, or when an announcement is made to the market, whichever occurs earliest.
PEN's shares last traded at 21 cents, up from 17.5 cents on October 30.
Debt restructure agreements
The company has this week executed binding amended agreements with its lenders to restructure existing US$17 million convertible note facilities.
This restructure will result in a significant reduction in the outstanding principal owed through partial monetisation of a uranium concentrate sale and purchase agreement.
Additionally, the repayment date will be extended out to April 22, 2021.