Groundstar Resources Limited Announces Revocation of Cease Trade Orders

CALGARY, ALBERTA–(Marketwired – Oct. 8, 2015) –

Groundstar Resources Limited (“Groundstar” or the “Company”) (TSX VENTURE:GSA) is pleased to announce that, further to its most recent press release regarding the filing of all required financial statements, the Alberta Securities Commission (“ASC“), the British Columbia Securities Commission and the Ontario Securities Commission have granted a full revocation of the cease trade orders (the “CTO’s“) previously issued against the Company in September of 2015. The CTO’s were imposed for the Company’s failure to file its audited consolidated financial statements and management’s discussion and analysis for the year ended April 30, 2015. The Company has now filed its audited consolidated financial statement and management’s discussion and analysis for the year ended April 30, 2015 in addition to its consolidated interim financial statements and management’s discussion and analysis for the three month period ended July 31, 2015. All of such disclosure documents are available for review online on the Company’s profile on SEDAR at www.sedar.com.

The Company intends to immediately make an application to the TSX Venture Exchange for the trading suspension of the common shares of the Company to be revoked and shares reinstated for trading. The Company will issue a further news release regarding the anticipated timing of the resumption of trading in the near future.