Petrostar Petroleum Corp. (TSXV:PEP) signed a letter of intent to acquire LOMAC Canada Ltd. for CAD 0.5 million in cash and stock on April 30, 2014. Petrostar Petroleum Corp. signed a definitive agreement to acquire LOMAC Canada Ltd. on June 4, 2014. As consideration, Petrostar Petroleum will pay CAD 1 in cash and will issue 5 million shares of its Class A common stock. The transaction is subject to approval by Exchange and regulatory approvals and approval by the shareholders of Petrostar Petroleum. The transaction is expected to complete within the 60 days. Chartered Business Evaluation submitted to the TSXV for review on May 26,2014. The transaction has been approved by Petrostar Petroleum shareholders at the annual general meeting of the shareholders on June 24, 2014. As of August 6, 2014, TSX Venture Exchange approved the deal.

Petrostar Petroleum Corp. (TSXV:PEP) completed the acquisition of LOMAC Canada Ltd. on August 7, 2014.