Mr. Dusan Berka reports

MEGASTAR ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

At Megastar Development Corp.'s annual general meeting of shareholders held on Nov. 25, 2014, the shareholders re-elected Dusan Berka, Christian F. Staargaard, Jonathan M. Rich and Paul A. Smith as directors of the company for the ensuing year.

In addition, the shareholders ratified and approved, subject to acceptance by the TSX Venture Exchange, the company's stock option plan. The shareholders also approved appointment of Davidson & Co. LLP, charter accountants, as auditor for the ensuing year and authorized the directors to fix their remuneration.

At the directors meeting following the AGM, Mr. Berka was re-elected as the company's president and chief executive officer, and Zara Kanji as chief financial officer and corporate secretary. The audit committee members for the ensuing year are Christian F. Staargaard, Paul A. Smith and Jonathan M. Rich.

The board of directors would like to thank the company's shareholders for their patience and continued support throughout the past year.