CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - Perisson Petroleum Corporation ("Perisson"
or the "Company") (TSX VENTURE:POG) is pleased to announce the grant of 4,250,000 stock options to certain
directors, officers, employees and consultants, issued pursuant to the Company's stock option plan. The options vest over a
3 year period, are exercisable at a price of $0.47 per share and expire in December 2021. The shares issuable upon exercise
of the options may not be traded for 4 months and one day from the date of grant.
About Perisson Petroleum Corporation
Perisson Petroleum Corporation trades on the TSX-V under the symbol "POG". The Corporation has ownership in certain oil
and gas producing properties in the Twining area of Alberta, Canada. The Company also holds a 100% working interest in the
VMM-17 block, a license located in the prolific, stable, oil-producing region of the Middle Magdalena Basin in central
Colombia.
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.
Trading in the securities of Perisson Petroleum Corporation should be considered highly speculative. 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.