PetroMaroc Completes Shares for Debt Settlements

TORONTO, ONTARIO–(Marketwired – Mar 16, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA) (the “Company” or “PetroMaroc”), wishes to announce that pursuant to debt settlement agreements previously announced on February 15, 2017, it has received final approval from the TSX Venture Exchange and has issued 2,606,941 ordinary shares at a deemed per share price of $0.07875 to fully settle an aggregate Cdn $205,297 of indebtedness owing to certain arm’s length and non-arm’s length creditors. The settlement shares are subject to a statutory hold period of four months plus a day in accordance with applicable securities law legislation.

About PetroMaroc

PetroMaroc Corporation plc is an independent oil and gas exploration company. PetroMaroc holds a substantial share position in Sound Energy plc, and net profit interests in the Sidi Moktar licence (onshore Morocco), as a committed long-term partner to unlock the hydrocarbon potential of the Essaouira region. PetroMaroc is a public company and its common shares are listed on the TSX Venture Exchange under the symbol PMA.

Additional information about the Company is available on the PetroMaroc website at www.petromaroc.co or under the Company’s SEDAR profile at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Contact Information:
PetroMaroc Corporation plc
Martin Arch
Chief Financial Officer
+44 (0) 20 3137 7756