Received by email:

File: 6 - Mar 24.docx

/


LUXOR ANNOUNCES APPOINTMENT OF BANK RECEIVER
 AND BOARD RESIGNATION


Vancouver, British Columbia - March 27, 2017 - Luxor Industrial Corporation ("Luxor" or the "Company") announces that 
--->its Senior Secured Lender, HSBC, has appointed a Receiver to realize upon the Collateral (security interest) of Luxor 
--->Industrial Corporation and its subsidiary Mill Frame Inc.

Luxor has been unsuccessful in its attempt to restructure its finances as its current debt and working capital deficie
--->ncy exceed the combined realizable value of its assets and expected profit margins from its existing contracts. The wo
--->rking capital deficiency was primarily caused by unrecoverable cost overruns on one major contract that accounted for 
--->over 40 percent of sales in 2016.

Luxor also announces that Terry Lashman has resigned as a director and CEO of the Company. Tim Charman remains as the 
--->only director of the Company.

The board will provide updates as events unfold.

On behalf of the Board:

Tim Charman, Chief Financial Officer and Director
Luxor Industrial Corporation



For further information contact Tim Charman at 604-864-9601

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.