Geopetrol International Holding Inc.

December 10, 2013 10:08 ET

Geopetrol Acquires Interest in Sonoro Energy

GENEVA, SWITZERLAND--(Marketwired - Dec. 10, 2013) - Geopetrol International Holding Inc. ("Geopetrol") announced today that it acquired, post-Consolidation (as such term is hereinafter defined) 26,300,000 common shares (the "Shares") of Sonoro Energy Ltd. ("Sonoro") at a price of $0.08 per Share for an aggregate consideration of $2,104,000 pursuant to a subscription agreement (the "Subscription Agreement") entered into with Sonoro. The Subscription Agreement was entered into as part of a private placement of Shares of Sonoro for total gross proceeds of $2,396,915 (the "Private Placement").

Prior to the completion of the Private Placement, Sonoro consolidated all of its issued and outstanding common shares on the basis of one post-consolidation Share for every ten pre-consolidation Shares (the "Consolidation"). Post-Consolidation but prior the closing of the Private Placement, Geopetrol held 4,600,000 Shares, representing 17.39% of the issued and outstanding Shares of Sonoro at that time. After completion of the Private Placement, Geopetrol now has beneficial ownership and control over 30,900,000 Shares representing 52.37% of the issued and outstanding Shares of Sonoro.

The securities issued to Geopetrol as part of the Private Placement were distributed pursuant to an exemption from the prospectus requirements as set out in section 2.3 of Regulation 45-106 respecting Prospectus and Registration Exemptions.

The Shares acquired pursuant to the Private Placement were acquired directly from Sonoro and therefore the acquisition of the Shares was not realized through the facilities of any stock exchange or other market. Geopetrol holds the Shares for investment purposes and, in accordance with applicable securities laws, may increase or decrease its investment depending on market conditions.

An early warning report in respect of the above noted transactions will be filed on SEDAR.

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

Contact Information