Perisson Petroleum Corporation Announces Share Consolidation

MONTREAL, QUEBEC--(Marketwired - Aug. 18, 2015) - Perisson Petroleum Corporation ("Perisson" or the "Company") (CSE:POG) is pleased to announce that the share consolidation (the "Consolidation") of 10:1 for its common shares previously approved by Perisson shareholders at the annual general and special meeting held on June 1, 2015 will be effective August 21, 2015, as previously anticipated.

Following the Consolidation there will be approximately 11,457,301 common shares issued and outstanding, not accounting for the rounding of fractional shares. The common shares are anticipated to trade on a consolidated basis on August 19, 2015. The stock trading symbol "POG" has remained the same.

No fractional shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares.

In addition, the exercise price and number of common shares of Perisson issuable upon the exercise of outstanding stock options and warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation.

A letter of transmittal will be mailed to registered holders to be used to exchange their current share certificates for certificates representing the consolidated number of common shares in connection with the Consolidation.

For additional details please refer to the Information Circular dated May 8, 2015, which has been filed on SEDAR at www.sedar.com.

About Perisson Petroleum Corporation

Perisson Petroleum Corporation holds a 100% working interest in 39,927 hectares (almost 100,000 acres) known as the VMM-17 block, a license located in the prolific, stable, oil-producing region of the Middle Magdalena Basin in central Colombia. The Corporation's objectives are to explore, exploit and produce oil from the relatively shallow reservoirs believed to be within the VMM-17 block.

FORWARD LOOKING STATEMENTS

This news release includes certain information, with management's assessment of Perisson's future plans and operations, and contains forward-looking statements which may include some or all of the following: (i) anticipated production rates; (ii) expected results of capital programs; (iii) expected timelines for production optimization; (iv) net debt levels; (v) anticipated operating costs; and (vi) expected capital projects and associated spending; which are provided to allow investors to better understand the Company's business. By their nature, forward-looking statements are subject to numerous risks and uncertainties; some of which are beyond Perisson's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, changes in environmental tax and royalty legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, and other risks and uncertainties described under the heading 'Risk Factors' and elsewhere in the Company's Management Discussion and Analysis and other documents filed with Canadian provincial securities authorities and are available to the public at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The principal assumptions Perisson has made includes security of land interests; drilling cost stability; finance and debt markets continuing to be receptive to financing the Company, the ability of the Company to monetize non-core assets and industry standard rates of geologic and operational success. Actual results could differ materially from those expressed in, or implied by, these forward-looking statements. Perisson disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For more information on the Company, Investors should review the Company's registered filings which are available at www.sedar.com.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.