Petrox Announces Approval of Resolutions in Connection with Proposed Amalgamation with TrueNorth CX Inc.

Calgary, Alberta--(Newsfile Corp. - July 11, 2018) - Petrox Resources Corp. (TSXV: PTC) ("Petrox"), is pleased to announced that at the special meeting of the shareholders of Petrox held on July 10, 2018, the shareholders of Petrox approved the 5.5 to one (5.5:1) consolidation of all of the issued and outstanding common shares of Petrox (the "Consolidation"), the delisting of the common shares of Petrox from trading on the TSX Venture Exchange (the "TSXV") (the "Delisting") and have approved the change of the name of Petrox to "TrueNorth CX Corp." (the "Name Change"), inter alia.

Shareholder approvals for the Consolidation, Delisting and Name Change are conditions precedent to the completion of the proposed amalgamation with TrueNorth CX Inc. ("TNCX") previously announced by Petrox on June 12, 2018 (the "Proposed Amalgamation"). The Consolidation, Delisting and Name Change will only be implemented in connection with and upon completion of the Proposed Amalgamation.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Petrox Resources Corp.
Edwin Tam, President and CEO, or Alan Chan, CFO
Telephone: (403) 270 - 2290 or (403) 237 - 8330
Facsimile: (403) 228 - 3013
Website: www.petroxresources.ca

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.