CALGARY, ALBERTA--(Marketwired - Oct. 24, 2014) - Petrox Resources Corp. (TSX VENTURE:PTC) ("Petrox") confirms that the letter of intent for the purchase of producing properties in Alberta originally announced on July 8, 2014 has expired. Petrox intends to continue its search for viable producing oil and gas properties for potential acquisition.
Petrox's discussions to complete an arm's length business combination with a private entity based in Shanghai, China are ongoing (the "Transaction"). Trading of the Petrox Shares has been halted and will not resume until certain TSX Venture Exchange requirements with respect to the Transaction have been satisfied.
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