Shooting Star Announces Results From Shareholder Meeting and Implementation of Changes in Accordance With New TSXV CPC Policy - Seite 2

Under the New CPC Policy, the Corporation's escrowed securities would be subject to a different escrow release schedule whereby 25% of the escrowed securities would be released from escrow on the Initial Release and 25% of the escrowed securities would be released from escrow on each of the 6, 12 and 18 months following such date. The New CPC Policy also provides that all options granted prior to the date the Exchange issues a final bulletin for the Corporation's Qualifying Transaction and all Common Shares that were issued upon exercise of such options prior to such date will be released from escrow on such date, other than options that (a) were granted prior to the Corporation's Initial Public Offering ("IPO") with an exercise price that is less than the issue price of the common shares issued in the IPO and (b) any common shares that were issued pursuant to the exercise of such options, which will be released from escrow in accordance with the schedule set out above.

At the Meeting, the Corporation received approval from disinterested shareholders to authorize the Corporation to enter into a new escrow agreement in the form as provided for under the New CPC Policy to replace and supersede the Current Escrow Agreement.

About Shooting Star Acquisition Corp.

Shooting Star is a CPC created to identify and evaluate potential acquisitions of commercially viable businesses and assets that have the potential to generate profits and add shareholder value. Except as permitted under the TSXV's CPC policy, until the completion of the Qualifying Transaction, Shooting Star will not carry on business, other than the identification and evaluation of companies, businesses or assets with a view to completing a Qualifying Transaction.

Trading of the Common Shares is presently halted and will recommence at such time as the TSXV may determine, having regard to the completion of certain requirements pursuant to Policy 2.4 of the TSXV.

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.

For further information, please contact:

Geoff Balderson
Chief Executive Officer, Chief Financial Officer, and Secretary
Telephone: [phone]
Email: [e-mail]

ON BEHALF OF THE BOARD OF DIRECTORS
Geoff Balderson
President, CEO and Director

Forward-Looking Statements Disclaimer

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Shooting Star assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Shooting Star. Additional information identifying risks and uncertainties is contained in filings by Shooting Star with the Canadian securities regulators, which filings are available at www.sedar.com.

SOURCE: Shooting Star Acquisition Corp.

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