April 16, 2015

PetroMaroc Issues Shares Pursuant to the Debenture Amending Agreement and Assesses Improvements to its Capital Structure


CALGARY, CANADA--(Marketwired - April 15, 2015) - PetroMaroc Corporation plc. (TSX VENTURE:PMA) (the "Company" or "PetroMaroc") is pleased to announce that following receipt of the TSX Venture Exchange's approval (see news release of February 20, 2015), the Company has completed its shares-for-debt settlement with the remaining two of the three holders (the "Debenture holders") of the Company's Cdn$9.7 million principal amount of debentures (the "Debentures"). Under this settlement, PetroMaroc issued an aggregate of 3,285,115 common shares of the Company (the "Shares") at a deemed price of Cdn$0.06 per Share in satisfaction of making a cash payment to the Debenture holders in the amount of Cdn $197,106.85, which was due and payable on December 31, 2014. The number of Shares issued and outstanding following this issue totals 105,223,923.




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