TORONTO, ONTARIO–(Marketwired – Aug. 21, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the “Company” or “PetroMaroc”), is pleased to announce its financial and operating results for the second quarter of 2017.

Commenting, D. Campbell Deacon, Chief Executive Officer of PetroMaroc, said: “PetroMaroc’s ownership of consideration shares in Sound Energy plc enable the Company to be positioned to leverage off Sound Energy’s operating capability in country and balance sheet while retaining material upside with its ownership of the Sidi Moktar Net Profit Interests. During Q2 2017, Sound Energy successfully tested the Koba … Continue Reading

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

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TORONTO, ONTARIO–(Marketwired – July 10, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), (the “Company” or “PetroMaroc”) announces that following the successful test of the Koba well in the upper Argovian section where natural gas was produced and flared, Sound Energy has temporarily suspended the well to address H2S safety issues. An extended test program will begin in September 2017 to delineate the commercial significance of the upper zones. Additional seismic will be undertaken to further delineate the area in question. In the meantime Sound Energy plc’s CEO James Parsons has indicated the company intends to use best efforts to initiate … Continue Reading

TORONTO, ONTARIO–(Marketwired – July 6, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), (the “Company” or “PetroMaroc”) announces that it has entered into a debt settlement agreement with Dundee Securities Europe LLP, an affiliate of Dundee Corporation (“Dundee“), a creditor of the Company, to settle US$325,000 debt owed, in consideration for the issuance of 1,000,000 ordinary shares of the Company (the “Shares“) at a deemed price of US$0.325 per Share (the “Debt Settlement“). The Board of Directors and Management of PetroMaroc believe that the Debt Settlement is in the best interests of the Company as it allows it to preserve its … Continue Reading

TORONTO, ONTARIO–(Marketwired – June 27, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA) (the “Company” or “PetroMaroc“) is pleased to announce that at the Company’s annual and special meeting of shareholders held on June 27, 2017, the shareholders elected Messrs. Dennis A. Sharp, D. Campbell Deacon and Nicholas O. Brigstocke to serve as directors of the Company until the next annual general meeting of shareholders, or until their successors have been duly elected or appointed.

The Company’s shareholders also approved: (i) the appointment of Deloitte LLP as auditors of the Company with remuneration to be fixed by the board, and (ii) … Continue Reading

TORONTO, ONTARIO–(Marketwired – May 29, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the “Company” or “PetroMaroc”) is pleased to announce its financial and operating results for the first quarter of 2017.

Commenting, D. Campbell Deacon, Chief Executive Officer of PetroMaroc, said: “In early January 2017, the Company completed the sale and purchase agreement with Sound Energy plc (“Sound Energy”), following which, PetroMaroc’s ownership of consideration shares in Sound Energy enable the Company to be positioned to leverage off Sound Energy’s operating capability in country and balance sheet whilst retaining material upside … Continue Reading

TORONTO, ONTARIO–(Marketwired – May 18, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the “Company” or “PetroMaroc”) announces that the board of directors of the Company has approved the grant of an aggregate of 900,000 options (the “Options”) to purchase common shares in the capital of the Company to certain directors and officers of the Company. The Options are exercisable at a price of $0.09 per common share for a term of five years, until May 18, 2022. The issuance of the options is subject to all necessary approvals by the TSX … Continue Reading

TORONTO, ONTARIO–(Marketwired – April 27, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the “Company” or “PetroMaroc”) is pleased to announce its financial and operating results for the year ended December 31, 2016, and the fourth quarter of 2016.

Commenting, D. Campbell Deacon, Chief Executive Officer of PetroMaroc, said: “During 2016, the Company announced and significantly advanced the binding sale and purchase agreement with Sound Energy plc (“Sound Energy”). In early January 2017, the Company announced all conditions precedent were successfully fulfilled with the transaction completing, following which, PetroMaroc’s consideration shares in … Continue Reading

TORONTO, ONTARIO–(Marketwired – April 19, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the “Company” or “PetroMaroc”) wishes to provide an update regarding its interests in the Sidi Moktar licence and the Zag licence.

Sidi Moktar

Following completion of the sale of the Company’s interests in the Sidi Moktar licences to Sound Energy plc (“Sound Energy”), the Company received ordinary shares of Sound which currently total approximately 16 million shares, retained a 10% net profit interest in any future cash flows from the Kechoula structure within the Sidi Moktar licences and also … Continue Reading

TORONTO, ONTARIO–(Marketwired – March 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

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TORONTO, ONTARIO–(Marketwired – Feb. 15, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA) (the “Company” or “PetroMaroc”) is pleased to announce that it has received final approval from the TSX Venture Exchange (the “TSXV”) in connection with the restructuring (the “Restructuring Transaction”) of the Cdn $11.09 million principal amount of secured debentures (the “Debentures”) of the Company.

Accordingly, the Debentures were rolled into a new class of secured redeemable, debentures, issuable in series, with all principal and interest due and payable in full on January 31, 2018 (the “New Debentures”). The Series 1 New Debentures bear interest at the rate of … Continue Reading

TORONTO, ONTARIO–(Marketwired – Jan. 19, 2017) – PetroMaroc Corporation plc (TSX VENTURE:PMA) (the “Company” or “PetroMaroc”), wishes to provide an update respecting the restructuring of the Cdn $11.09 million principal amount of secured debentures (the “Debentures”) of the Company.

As previously reported in the Company’s press release dated November 9, 2016, the Debentures will be rolled into a new class of secured, redeemable, debentures, issuable in series, with all principal and interest due and payable in full on January 31, 2018 (the “New Debentures”). The holders of the Debentures agreed, pursuant to the terms of a binding letter of intent … Continue Reading