SOG Strategic Oil & Gas Ltd

Strategic Oil & Gas Ltd. Receives ASC Cease Trade Order

Calgary, Alberta--(Newsfile Corp. - May 7, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that a cease trade order has been issued to the Company by the Alberta Securities Commission on May 6, 2019 for failure to file annual audited financial statements for the year ended December 31, 2018, including the related management's discussion and analysis and CEO and CFO certifications (collectively the "Annual Filings"). The Annual Filings were required to be filed by April 30, 2019. As a result, the Company's securities have been halted from trading on the NEX board of the TSX Venture Exchange.

On April 10, 2019 Strategic announced that it has filed for creditor protection under CCAA. The Company is not able to provide any assurance as to its ability to file the Annual Filings or have the cease trade order lifted as a result of the ongoing CCAA process.

About Strategic Oil & Gas

Strategic is a junior oil and gas company with operated light oil assets, primarily in northern Alberta. Strategic's primary operating area is at Marlowe, Alberta.

For more information, please contact:

Tony Berthelet
President & Chief Executive Officer

Aaron Thompson
Chief Financial Officer

Strategic Oil & Gas Ltd.
1100, 645 7th Avenue SW
Calgary, AB T2P 4G8

Telephone: 403.767.2952
Fax: 403.767.9122

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future trading of the Company's common shares, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These factors include, but are not limited to, commodity prices, need for additional funding and availability of such funding, economic conditions, currency fluctuations, competition and regulatory changes. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

The TSXV has in no way passed on the merits of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit

EN
07/05/2019

Underlying

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Reports on Strategic Oil & Gas Ltd

 PRESS RELEASE

Strategic Oil & Gas Ltd. Announces Receipt of Repayment Notice and Exp...

Calgary, Alberta--(Newsfile Corp. - January 23, 2020) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that following discussions with GMT Capital Corp ("GMT"), manager of certain investment funds which hold $14.6 million of the Company's outstanding first-lien secured notes, GMT has delivered a Notice of Intention to Enforce Security under Section 244 of the Bankruptcy and Insolvency Act (Canada) whereby GMT sets forth its intention to enforce its security for repayment of the notes. In connection therewith, the Company has consented to the appointment of a rec...

 PRESS RELEASE

Strategic Oil & Gas Ltd. Announces Management and Board Changes

Calgary, Alberta--(Newsfile Corp. - October 3, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") is pleased to announce that William Lancaster will be joining the Company as President and Chief Executive Officer effective October 17, 2019.Mr. Lancaster is currently the President and a member of the Board of Directors of GMT Exploration LLC ("GMT Exploration"), a private oil company based in Colorado. The Chairman of the Board of Directors of Strategic is a significant shareholder and member of the Board of Directors of GMT Exploration. The Company also announces that...

 PRESS RELEASE

Strategic Oil & Gas Ltd. Receives ASC Cease Trade Order

Calgary, Alberta--(Newsfile Corp. - May 7, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that a cease trade order has been issued to the Company by the Alberta Securities Commission on May 6, 2019 for failure to file annual audited financial statements for the year ended December 31, 2018, including the related management's discussion and analysis and CEO and CFO certifications (collectively the "Annual Filings"). The Annual Filings were required to be filed by April 30, 2019. As a result, the Company's securities have been halted from trading on the NE...

 PRESS RELEASE

Strategic Oil & Gas Ltd. Announces Transfer to NEX and Director Resign...

Calgary, Alberta--(Newsfile Corp. - April 15, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that Mr. Rodger Hawkins and Mr. Michael Watsky have resigned from the Company's Board of Directors. Strategic wishes to thank Mr. Hawkins and Mr. Watsky for their years of service to the Company and wishes them well in future endeavors. The Company has six members remaining on its Board of Directors. Trading in the common shares of the Company on the TSX Venture Exchange ("TSXV") have been halted as a result of the announcement by the Company on April 10 that it h...

 PRESS RELEASE

Strategic Oil & Gas Ltd. Files for Creditor Protection Under the CCAA

Calgary, Alberta--(Newsfile Corp. - April 10, 2019) - Strategic Oil & Gas Ltd. and its wholly owned subsidiary, Strategic Transmission Ltd. (TSXV: SOG) (collectively, "Strategic" or the "Company")  announces that it has obtained creditor protection under the Companies' Creditors Arrangement Act ("CCAA") pursuant to an Order granted by the Court of Queen's Bench of Alberta (the "Court") dated April 10, 2019. As a result of the Company's working capital deficit, limited cash flows from operating activities and current inability to access capital markets, and after careful consideration of all ot...

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