VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2017) - Panorama Petroleum Inc. (the "Company") (TSX VENTURE:PPA) reports
that a total debt of $5,300,000 has been extinguished by the issuance of 98,000,000 common shares to Maverick Petroleum Ltd. and
8,000,000 common shares to Larnite Corporation (Pvt) Ltd.
This transaction was approved by the TSX Venture Exchange. All common shares to be issued in this transaction will be subject
to a four month hold period.
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 or the adequacy or accuracy of this release. Certain information provided in this news
release contains forward-looking statements that by their nature are subject to numerous risks and uncertainties and readers are
cautioned that actual results may vary considerably from those forecasted.