Groundstar Resources Limited Provides Update Regarding Shareholder Meeting

CALGARY, ALBERTA--(Marketwired - Sept. 18, 2015) -

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Groundstar Resources Limited ("Groundstar" or the "Company") (TSX VENTURE:GSA) announces that, further to its press release dated September 4, 2015, the dispute between Groundstar and a dissident shareholder concerning the scheduling of a special shareholders meeting has been resolved by agreement between the parties confirmed in a Consent Order of the Alberta Court of Queen's Bench pursuant to which the meeting called by the dissident shareholder for October 8, 2015 shall not proceed and pursuant to which Groundstar will, on January 13, 2016, hold its annual general and special meeting of shareholders which will include the special business set forth in the dissident's requisition, being the election of a new board of directors of the Company. For greater certainty, the meeting scheduled for October 8, 2015 will not proceed and the previously called meeting of shareholders scheduled for January 13, 2016 will continue, such meeting dealing with the annual general meeting matters as well as an item of special business, being the election of a new board of directors to be put forth by the dissident shareholder.

About Groundstar Resources Limited

Incorporated in 1968, Groundstar Resources Limited is a publicly traded oil and gas company actively growing a portfolio targeting producing oil and gas assets with development opportunities and exploration upside. The Company's current portfolio of resource assets provides both near term and longer term potential. Groundstar is quoted and trades under the ticker symbol "GSA" on the TSX Venture Exchange.

Neither the 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 press release.