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


FOR: GREENFIELDS PETROLEUM CORPORATION
TSX VENTURE SYMBOL: GNF

Date issue: March 31, 2017
Time in: 8:00 AM e

Attention:

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.

- END RELEASE - 31/03/2017

For further information:
Greenfields Petroleum Corporation
John W. Harkins
Chief Executive Officer
(832) 234-0836
OR
Greenfields Petroleum Corporation
A. Wayne Curzadd
Chief Financial Officer
(832) 234-0835
www.greenfields-petroleum.com
info@greenfieldspetroleum.com

COMPANY:
FOR: GREENFIELDS PETROLEUM CORPORATION
TSX VENTURE SYMBOL: GNF

INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170331CC0020

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.



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