Mr. John Wright reports

LIGHTSTREAM RECEIVES INITIAL ORDER FOR CCAA PROTECTION AND POSTPONEMENT OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

Earlier today, Lightstream Resources Ltd. obtained an initial order from the Court of Queen's Bench of Alberta under the Companies' Creditors Arrangement Act as the company continues working to restructure its balance sheet. Pursuant to the initial order, the company has obtained a stay of proceedings from creditor claims and the exercise of contractual rights and remedies for an initial period expiring on Oct. 26, 2016, which may be extended by the court as it deems appropriate. The company has also obtained approval of its proposed sale procedures, which are a continuation of the previously announced sale and investment solicitation process that commenced on July 13, 2016.

During the CCAA proceedings, Lightstream expects that its operations will continue uninterrupted in the ordinary course of business and that all pre and postfiling obligations to service providers, suppliers and contractors will continue to be met on a normal course basis as will continuing obligations to the company's customers.

FTI Consulting Canada Inc. has been appointed monitor of the company for the CCAA proceedings. A copy of the initial order will be made available, and details relating to this case may be accessed on the monitor's website. The monitor has also established an information line at 1-855-344-1825 and a dedicated e-mail address at lightstream@fticonsulting.com for the purposes of receiving and responding to inquiries regarding the CCAA process. While under CCAA protection, management of the company will remain responsible for the day-to-day operations of the company under the general oversight of the monitor.

In addition, the company has received an order from the court allowing the company to postpone its annual general meeting of shareholders to a date not later than March 31, 2017. The company has determined that it is appropriate to postpone the AGM until it has greater clarity regarding the outcome of its restructuring. As a result, the AGM scheduled to be held at 9 a.m. on Sept. 30, 2016, has been postponed until such later date as the Lightstream board of directors shall determine.

We seek Safe Harbor.