GreenStar Provides Disclosure Update

TORONTO, ONTARIO--(Marketwired - May 21, 2014) - GreenStar Agricultural Corporation (TSX VENTURE:GRE) (the "Company" or "GreenStar"), announced that a management cease trade order ("MCTO") has been ordered by the Ontario Securities Commission ("OSC") as principal regulator following a hearing held on May 16, 2014.

The hearing was held by the OSC as a result of GreenStar's April 28 and May 6, 20142 announcements that it would be late in filing its audited annual financial statements for the fiscal year ended December 31, 2013 and related Management's Discussion & Analysis and CEO and CFO certification of filings (collectively, the "Annual Filings"), following the issuance by the OSC of a temporary management cease trade order on May 5, 2014.

The MCTO restricts all trading in and all acquisitions of the securities of the Company, whether direct or indirect, by the Chief Executive Officer and the Chief Financial Officer of the Company until two full business days following the receipt by the OSC of all Annual Filings. The MCTO will not affect the ability of persons who are not insiders of GreenStar to trade its securities.

GreenStar intends to satisfy the provisions of the Alternative Information Guidelines as set out in National Policy 12 - 203 for as long as GreenStar remains in default, including the issuance of further by-weekly default status reports, each of which will be issued in the form of a press release. A general cease trade order may be issued if GreenStar fails to file such default status reports on a timely basis.

The delay in filing was the result of GreenStar having received notice from its auditors that they were not able to provide an audit opinion by the filing deadline. GreenStar's audit committee has been following up with the auditors and the Chinese management to complete the audit and in doing so, has identified certain corporate governance and administrative deficiencies which contributed to the delay in the audit. The board of directors views these matters very seriously, and is taking steps to improve corporate governance oversight and to resolve all outstanding issues with the audit. The audit committee continues to try and resolve this matter with Mr. Guan Lianyun, President and CEO of the Company, and the audit committee believes that Mr. Guan is working to resolve this situation, but there can be no assurance of success.