TORONTO, ONTARIO–(Marketwired – Feb. 24, 2017) – Banro Corporation (“Banro” or the “Company“) (NYSE MKT:BAA)(TSX:BAA) is pleased to provide an update on the progression of the Company’s recapitalization (the “Recapitalization“) announced in the Company’s January 31, 2017 press release. Banro reports that, as contemplated by the terms of the Recapitalization, the Ontario Superior Court of Justice has issued the interim order (the “Interim Order“) which, among other things, authorizes the Company to convene meetings of holders of its US$175 million senior secured notes (“Existing Notes“) and Banro’s series A preference shares and series B preference shares to approve, among other things, the previously announced corporate plan of arrangement (the “Plan of Arrangement“) under the Canada Business Corporations Act (the “CBCA“) to implement the Recapitalization. The Company also intends to hold a meeting of holders of its common shares to approve, among other things, the Recapitalization. The meetings are scheduled to be held on March 31, 2017.