Meridian Capital International Fund Purchases Units of Petrotal Corp.

HONG KONG, June 19, 2020 /CNW/ - Meridian Capital International Fund ("Meridian") announced that on June 18, 2020 it acquired 75,000,000 units of PetroTal Corp. ("PetroTal") (TSXV: TAL) (AIM: PTAL) by way of a private placement at a price of 10p (approximately C$0.17) per unit, for total consideration of £7,500,000 (approximately C$12,680,574). Each unit consists of one common share of PetroTal and one half of one warrant. Each whole warrant (comprised of two half warrants) can be exercised to acquire one PetroTal common share for 16p until the third anniversary of their issuance.

The 75,000,000 common shares acquired by Meridian, together with the common shares of PetroTal previously held by it, result in Meridian having beneficial ownership of approximately 19.42% of PetroTal's outstanding common shares. Prior to Meridian's acquisition of the 75,000,000 common shares on June 18, 2020, Meridian owned 79,010,361 common shares of PetroTal, representing approximately 11.8% of PetroTal's outstanding common shares.

The common shares of PetroTal were acquired by Meridian for investment purposes. Meridian will continue to review the performance of and prospects for this investment and investment alternatives. Meridian may take actions in the future in respect of its security holdings in PetroTal based on the then existing facts and circumstances, which actions could include, without limitation, acquisitions or dispositions of PetroTal common shares, whether in the open market, by privately negotiated agreement or otherwise.

Meridian's head office is located at Level 37, 41 Heung Yip Road, Level 37, 41 Heung Yip Road. PetroTal's head office is located at 11451 Katy Freeway, Suite 500, Houston, Texas, 77079.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under PetroTal's profile on SEDAR (www.sedar.com) containing further information respecting the foregoing matters. For a copy of such report or further information, you may contact:

SOURCE Meridian Capital International Fund

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