CALGARY, ALBERTA–(Marketwired – Sept. 1, 2015) – Petrox Resources Corp. (TSX VENTURE:PTC) (the “Corporation“) confirms that the amalgamation agreement providing for the proposed amalgamation transaction between the Corporation and Shanghai Sinooil Energy Holding Corporation previously announced in the Corporation’s press release dated March 31, 2015 has expired and is now terminated. The termination of this proposed amalgamation was due to a number of factors, including the substantial drop in the oil price and the volatility of the oil market since the fall of 2014.
The Corporation’s shares will re-commence trading on the TSX Venture Exchange at market open on September 3, 2015.
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Petrox Resources Corp.
Edwin Tam
President and CEO
(403) 270-2290 or (403) 237-8330
(403) 228-3013 (FAX)
Petrox Resources Corp.
Alan Chan
CFO
(403) 270-2290 or (403) 237-8330
(403) 228-3013 (FAX)
www.petroxresources.ca