Greenfields Petroleum Corporation
TSX VENTURE : GNF

Greenfields Petroleum Corporation

March 31, 2017 08:00 ET

Greenfields Petroleum Corporation Announces Tenth Amending Agreement under its Senior Secured Debt and Change of Auditors

HOUSTON, TEXAS--(Marketwired - March 31, 2017) - Greenfields Petroleum Corporation (the "Company" or "Greenfields") (TSX VENTURE:GNF) announces that it has entered into a Tenth Amending Agreement to the Loan Agreement with its senior lender, Vitol Energy (Bermuda) Ltd., to facilitate a deferral of the prepayment obligation in the amount of U.S. $500,000 due on March 31, 2017, until the earlier of the Maturity Date or voluntary prepayment.

Furthermore, on February 21, 2017, the Company filed notice of Change of Auditor advising of the replacement of its previous auditors, Calvetti Ferguson, P.C., with Pannell Kerr Forster of Texas, P.C. ("PKF"). The change was initiated after Calvetti Ferguson gave notice to the board of directors of Greenfields that their firm would no longer perform audits for Canadian registrants and 10k filers. PKF was selected and engaged by the Company's Audit Committee to perform the year end 2016 audit for Greenfields.

About Greenfields Petroleum Corporation

Greenfields is a junior oil and natural gas corporation focused on the development and production of proven oil and gas reserves principally in the Republic of Azerbaijan. The Company focuses on the development of previously discovered but under-developed international oil and gas fields, also known as "greenfields". More information about the Company may be obtained on the Greenfields website at www.greenfields-petroleum.com.

Neither the 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