CALGARY:  Gran Tierra Energy Inc. announced that Gran Tierra Resources Limited, a wholly owned subsidiary of Gran Tierra, has entered into arrangements with private purchasers providing for the sale by GTRL of an aggregate of 109 million common shares of PetroTal Corp. at a price of $0.13623 per purchased share, for an aggregate purchase price of approximately $14.8 million.

As of market close on January 20, 2021, the remaining 137.093 million shares of PetroTal owned by GTRL had a market value of approximately $32 million.

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company focused on oil and natural gas exploration and production in Colombia and Ecuador.

The Company is focused on its existing portfolio of assets in Colombia and Ecuador and plans to pursue new growth opportunities throughout Colombia and Latin America.

Remus Horizons replaces Gran Tierra as PetroTal’s largest shareholder

The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. www.grantierra.com