Mr. John Wright reports

LIGHTSTREAM MOVES TO SECOND PHASE OF CCAA SALE PROCEDURES AND CONFIRMS DELISTING FROM TORONTO STOCK EXCHANGE

The first phase of Lightstream Resources Ltd.'s sale procedures under the Companies' Creditors Arrangement Act (CCAA), in which non-binding indications of interest were received and considered, has concluded. Accordingly, qualified bidders will move to the second phase of the sale procedures. The qualified bidders include the ad hoc committee of holders of approximately 91.5 per cent of the company's 9.875-per-cent second-lien secured notes due 2019, which submitted a credit bid for the full amount of the claims outstanding in respect of the secured notes and debt in priority to the secured notes, in accordance with the previously disclosed restructuring support agreement entered into between Lightstream and the ad hoc committee on July 12, 2016. The second phase of the sale procedures is scheduled to conclude on Nov. 21, 2016, which is the deadline for the submission of binding bids.

The company also confirms that its common shares have been delisted from trading on the Toronto Stock Exchange, effective Oct. 27, 2016.

We seek Safe Harbor.