Goldstrike / Petro One Business Combination Receives Supreme Court Approval

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/16/16 -- Goldstrike Resources Ltd. (TSX VENTURE: GSR) and Petro One Energy Corp. (TSX VENTURE: POP) are pleased to announce that the proposed Arrangement involving the acquisition of Petro One by Goldstrike, which was approved by the shareholders of Petro One at their Meeting held on February 4, 2016, has now has been approved by the Supreme Court of British Columbia.

On February 10, 2016, the Court granted an Order approving the Arrangement as being fair to Petro One and each shareholder of Petro One, which satisfied the final requirement for a statutory plan of arrangement under the Business Corporations Act (British Columbia). The Court also approved the Arrangement Agreement between Goldstrike and Petro One, and ordered that Petro One and its shareholders be bound by the terms and conditions set forth in the Plan of Arrangement and the Arrangement Agreement approved at the Meeting.

Evidence of shareholder approval and Court approval will now be submitted to the TSX Venture Exchange (the "TSXV") in support of an application for final acceptance of the Arrangement filing, and an effective date for the Arrangement will be set upon receipt of notice of TSXV acceptance. The proposed Arrangement has been conditionally accepted by the TSXV, but remains subject to final TSXV acceptance.

ON BEHALF OF THE BOARD PETRO ONE ENERGY CORP.

Peter Bryant, President & Director

ON BEHALF OF THE BOARD GOLDSTRIKE RESOURCES LTD.

Terrence E. King, President & Director

For further information, please visit the companies' websites, follow the companies's tweets or contact the Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 805 0375 or by email at [email protected].

Neither 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.

Contacts:
PETRO ONE ENERGY CORP.
604 566 9089 or IR:  604 805 0375
604 564 8003 (FAX)
www.PetroOneEnergy.com
Twitter.com/PetroOneEnergy

GOLDSTRIKE RESOURCES LTD.
604 681 1820 or IR: 604 805 0375
604 681 1864 (FAX)
www.GoldStrikeResources.com
Twitter.com/GoldstrikeRes

Source: Goldstrike Resources Ltd. and Petro One Energy Corp.

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