The TSX Venture Exchange has accepted for filing documentation of a share purchase and sale agreement dated Feb. 5, 2015, between Wellstar Energy Corp. and Krazel Corp. (D. Krayzel) and RFB Holdings Ltd. (R. Boyd), whereby the issuer may acquire certain oil and gas assets located in Alberta and Saskatchewan.

Pursuant to the terms of the agreement, the issuer will acquire the assets in consideration for total cash payments of $1.6-million, including $200,000 upon closing the acquisition, and the issuance by the company of four million shares. Each acquisition warrant will entitle the vendors to purchase one common share at an exercise price of five cents for a period of four years following the closing of the acquisition. The balance of the cash payment, being $1.4-million, is payable by monthly installments of $10,000 plus applicable interest. In addition, the company is obligated to pay 20 per cent of the gross proceeds of any future securities offering to the vendors until the deferred payment has been fully satisfied.

For further information please refer to the company's news releases dated Sept. 16, 2014, and Feb. 10, 2015.