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PetroMaroc Completes Shares for Debt Settlement

/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Aug 11, 2017) - PetroMaroc Corporation plc (TSX VENTURE:PMA) (the "Company" or "PetroMaroc"), wishes to announce that pursuant to the debt settlement agreement previously announced on July 6, 2017, it has received final approval from the TSX Venture Exchange and has issued 1,000,000 ordinary shares at a deemed per share price of US$0.325 to fully settle an aggregate US $325,000 debt owed to Dundee Securities Europe LLP, an affiliate of Dundee Corporation. The settlement shares are subject to a statutory hold period of four months 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 ownership position in Sound Energy plc, and net profit interests in the Sidi Moktar licence (onshore Morocco), which the Company considers to be a committed long-term partner who will work to unlock the hydrocarbon potential of the Essaouira region. PetroMaroc is a public company and its ordinary 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.

PetroMaroc Corporation plc
Martin Arch
Chief Financial Officer
+44 (0) 7901 728168

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