Shelton Canada Corp.

Shelton Canada Corp.

November 26, 2009 16:19 ET

Shelton Canada Corp.: Special and Annual Meeting to be Held in Connection With Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2009) - 

Shelton Canada Corp. (TSX VENTURE:STO) ("Shelton"), a public company listed on the TSX Venture Exchange (TSX-V) in Canada (STO) and Petrosibir AB ("Petrosibir"), a Swedish public company listed on the Nordic Growth Market in Stockholm, Sweden (PETS) announce that further to their previous announcements concerning the intended business combination, the special and annual meeting of Shelton will be held on Wednesday, December 16, 2009. Management confirms that the management proxy material, including the notice, information circular, and form of proxy, in respect of the meeting to approve, among other things, a proposed plan of arrangement involving Petrosibir, Petrosibir Canada Inc. ("PCI"), Shelton and the holders of Shelton's common shares has now been mailed to the shareholders of Shelton.

About Shelton Canada Corp.:
Shelton Canada Corp. (, a Canadian-based junior oil and gas company, is focused on exploring and developing the resource-rich basins of Ukraine. The company has an internationally experience board of directors and a long history of successful operations in Ukraine. These competitive advantages have helped Shelton to build effective personal relationships, strategic regional partnerships, and a large land position and a portfolio of projects on and offshore. Shelton's long-term goals are to become the leader in oil and gas production from the resource-rich Azov and Black Sea basins in five years.

About PetrosibirAB:
Petrosibir AB is a Swedish company focused on oil and gas exploration. The company holds three exploration licenses in the Russian republic of Bashkiria, located southwest of the Ural Mountains. The license blocks, which border one another, are 52 square km (Rustamovskoye) and 187 square km (Aysky), 300 square km (Suyanovske), and are surrounded by other producing oil fields. Petrosibir has found oil in its first and second well and measured commercial flow rates. The Petrosibir share is traded on the NGM stock exchange under the symbol PETS. In July 2009 Petrosibir announced that it had entered into a plan of arrangement agreement with Shelton Canada Corp, a Canadian company that has oil and gas assets in Ukraine and is listed on the TSX Venture Exchange.

Forward-Looking Information
Except for statements of historical fact relating to the company, this news release may contain certain "forward-looking information" within the meaning of applicable securities law including opinions, assumptions, estimates and management's assessment of future plans and operations, budgeted capital expenditures and funding thereof. Forward-looking information in this news release is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" "will" or "could" occur. There are uncertainties inherent in forward-looking information, including factors beyond Shelton's control, and no assurance can be given that such events will occur on time or at all.

Neither 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.

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