Petrox Announces Termination of Letter of Intent with Travel Plus International LLC

Calgary, Alberta--(Newsfile Corp. - January 10, 2020) - Petrox Resources Corp. (TSXV: PTC) (the "Petrox") announces that the letter of intent signed with Travel Plus International LLC ("Travel Plus") for a proposed transaction that would have resulted in a reverse take-over of Petrox by the securityholders of Travel Plus, which was previously announced in the Corporation's press release dated April 9, 2019, has expired and is now terminated. The termination of this proposed reverse take-over transaction was primarily due to Travel Plus's desire to carry out a corporate restructuring.

Trading of the Corporation's shares on the TSX Venture Exchange ("TSXV") is currently halted pending the completion by the TSXV of a trading resumption review. Petrox will issue a further press release to announce when the shares will recommence trading once the review has been completed.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51332

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