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File: WSE-NR 17-02 NR NFT and CD Unit Closing Feb 27 2017 Final.docx

Suite 700, 903 - 8th Ave S.W., Calgary, Alberta, Canada 
T2P 0P7
 TSX-V:   WSE   
Phone :    403.261.7949
Fax :        403.261.9698
www.wellstarenergy.com
 
  

NEWS RELEASE 17-02

 WellStar Announces a Non-Brokered Private Placement

Calgary, Alberta, March 3, 2017 - WELLSTAR ENERGY CORP. (TSX-V: WSE) (the "Company") announces that it intends to comp
--->lete a non-brokered private placement in the aggregate amount up to $1,500,000 consisting of 10% convertible debenture
---> units of the Company (the "CD Units") in the aggregate principal amount of up to $500,000 (the "CD Unit Offering") an
--->d a concurrent placement of up to 12,500,000 equity units (the "Units") at a price of $0.08 per Unit, for gross procee
--->ds of up to $1,000,000 (the "Unit Offering", and together with the CD Offering, the "Offering").

The Company announced that is has completed the first tranche of the Unit offering in the amount of $100,000 through t
--->he sale of 1,250,000 Units. Each Unit consists of one common share and one half of one common share purchase warrant. 
--->Each whole warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.08 for a pe
--->riod of three years following the closing of the Offering.  

The Company concurrently completed the first tranche of a CD Unit Offering in the aggregate amount of $200,000 consist
--->ing of 10% convertible debenture units of the Company. Each CD Unit will consist of $1,000 in principal amount of 10% 
--->convertible debentures (the "Debentures") maturing in three years, and that number of common share purchase warrants (
--->the "CD Unit Warrants") equal to one quarter of the shares issuable upon conversion of $1,000 in principal amount of D
--->ebentures. The principal and any accrued and unpaid interest under the Debentures will be secured and will be converti
--->ble at the holder's option into fully-paid non-assessable common shares of the Company at a conversion price, with res
--->pect to principal, equal to $0.11 per Share, and with respect to accrued and unpaid interest, the "Market Price" of th
--->e Shares on the TSXV, as defined in the policies of the TSX Venture Exchange (the "TSXV"), at the time of settlement. 
--->Each CD Unit Warrant will be exercisable for a period of 3 years following the closing at an exercise price of $0.11 p
--->er common share. 

The Company will pay eligible arm's-length finder fees in accordance with TSXV policy. All securities issued in connec
--->tion with the first tranche of the Offering will be subject to a hold period in accordance with applicable securities 
--->legislation that expires on June 28, 2016. Completion of the Offering is subject to the final approval of the TSXV. 

Net proceeds from the Offering will be applied towards payment of current liabilities, exploration and development of 
--->the Company's oil and gas properties and for general working capital purposes.

Further to the Company's January 31, 2017 news release, the Company announces it has closed its Flow Through Unit offe
--->ring.

For further information please contact Andrew H. Rees at (403) 919-7900.

ON BEHALF OF THE BOARD

(signed) "Andrew H. Rees"

Andrew H. Rees
President and Chief Executive Officer


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

Except for historical information contained herein, this news release contains forward-looking statements that involve
---> risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities l
--->aws, the Company will not update these forward-looking statements to reflect events or circumstances after the date he
--->reof. More detailed information about potential factors that could affect financial results is included in the documen
--->ts filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned n
--->ot to place undue reliance on forward looking statements.


File: WSE-NR 17-02 NR NFT and CD Unit Closing Feb 27 2017 Final.pdf

                                                                                          TSX-V: WSE
                                                         Suite 700, 903   8th Ave S.W.,
                                                                                          Phone : 403.261.7949
                                                         Calgary, Alberta, Canada
                                                                                          Fax :   403.261.9698
                                                         T2P 0P7
                                                                                          www.wellstarenergy.com




                                            NEWS RELEASE 17-02

                          WellStar Announces a Non-Brokered Private Placement

Calgary, Alberta, March 3, 2017 - WELLSTAR ENERGY CORP. (TSX-V: WSE) (the "Company") announces
that it intends to complete a non-brokered private placement in the aggregate amount up to $1,500,000
consisting of 10% convertible debenture units of the Company (the "CD Units") in the aggregate principal
amount of up to $500,000 (the "CD Unit Offering") and a concurrent placement of up to 12,500,000 equity units
(the "Units") at a price of $0.08 per Unit, for gross proceeds of up to $1,000,000 (the "Unit Offering", and
together with the CD Offering, the "Offering").

The Company announced that is has completed the first tranche of the Unit offering in the amount of $100,000
through the sale of 1,250,000 Units. Each Unit consists of one common share and one half of one common
share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at
an exercise price of $0.08 for a period of three years following the closing of the Offering.

The Company concurrently completed the first tranche of a CD Unit Offering in the aggregate amount of
$200,000 consisting of 10% convertible debenture units of the Company. Each CD Unit will consist of $1,000
in principal amount of 10% convertible debentures (the "Debentures") maturing in three years, and that number
of common share purchase warrants (the "CD Unit Warrants") equal to one quarter of the shares issuable upon
conversion of $1,000 in principal amount of Debentures. The principal and any accrued and unpaid interest
under the Debentures will be secured and will be convertible at the holder's option into fully-paid non-assessable
common shares of the Company at a conversion price, with respect to principal, equal to $0.11 per Share, and
with respect to accrued and unpaid interest, the "Market Price" of the Shares on the TSXV, as defined in the
policies of the TSX Venture Exchange (the "TSXV"), at the time of settlement. Each CD Unit Warrant will be
exercisable for a period of 3 years following the closing at an exercise price of $0.11 per common share.

The Company will pay eligible arm's-length finder fees in accordance with TSXV policy. All securities issued in
connection with the first tranche of the Offering will be subject to a hold period in accordance with applicable
securities legislation that expires on June 28, 2016. Completion of the Offering is subject to the final approval
of the TSXV.

Net proceeds from the Offering will be applied towards payment of current liabilities, exploration and
development of the Company's oil and gas properties and for general working capital purposes.

Further to the Company's January 31, 2017 news release, the Company announces it has closed its Flow
Through Unit offering.

For further information please contact Andrew H. Rees at (403) 919-7900.

ON BEHALF OF THE BOARD

(signed) "Andrew H. Rees"

Andrew H. Rees
President and Chief Executive Officer
 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for historical information contained herein, this news release contains forward-looking statements that involve
risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities la
--->ws,
the Company will not update these forward-looking statements to reflect events or circumstances after the date
hereof. More detailed information about potential factors that could affect financial results is included in the docum
--->ents
filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned
not to place undue reliance on forward looking statements.