Gen III Oil Corp. Announces Appointment of Executive Vice President

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 3, 2017) - Gen III Oil Corp. ("Gen III" or the "Company") (TSX VENTURE:GIII) is pleased to announce the appointment of Mr. Grant Brown as Executive Vice President of the Company, effective October 2, 2017.

Grant Brown is a highly experienced Investment Banker and Principal Investor, having over 18 years' experience with focus on complex cross-border public market and private M&A, principal investment, strategic corporate advisory and equity and debt financing across a range of industry sectors and jurisdictions. Through his career, Mr. Brown has lead large multidisciplinary teams, building valuable partnerships and creating significant value for clients and shareholders in advising on over $40 billion of transactions.

With significant oil and gas and industrial chemicals sector experience and cross-border transaction expertise, he brings a keen understanding of the requirements and cultural sensitivities in undertaking business in a range of international jurisdictions including in South America, Latin America, the USA, Europe, Asia, Australia and South Africa.

Most recently Mr. Brown lead the M&A practice of Canaccord Genuity in Australia and was previously Managing Director at Macquarie Capital and at JPMorgan. Mr. Brown holds Bachelor's degrees in both Commerce and Science from The University of Melbourne, Australia.

Mr. Brown's team leadership, strategic decision making, business building, partnership and negotiation skills, coupled with his global M&A, principal investment, structuring and financing expertise will make an excellent addition to the Company's executive.

Mr. Greg Clarkes, CEO, stated: "We are pleased to have a senior executive of Grant's calibre join our team. His skills and experience are highly complementary to the existing management group, particularly as the Company enters an intensive period of strategic partnerships, project financing and capital markets activities in completing our first ReGen facility, and importantly executing upon our broader corporate strategy."

The Company also announces that it has granted 500,000 stock options to Mr. Brown, entitling him to purchase one common share for each option held at a price of $0.70 per share and valid for a period of two years. The options were granted pursuant to the Company's stock option plan and will vest in two equal tranches in six and twelve months.

About Gen III Oil Corporation

Gen III Oil Corporation is an innovative oil processing company with the most advanced re-refining technology in the industry, which will produce large quantities of Group III and Group II+ base oils. Gen III is developing their first full-scale facility in Bowden, Alberta with scheduled production beginning in Q4 of 2018.

On Behalf of the Board of Gen III Oil Corporation

Greg Clarkes, Chief Executive Officer

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.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Gen III Oil Corporation. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements include, but are not limited to, the anticipated use of proceeds of the Offering. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.