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

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.