Ztr Acquisition Corp. Disposes of Oil and Gas Assets IN Debt Settlement Transaction

ZTR ACQUISITION CORP.

Suite 918-1030 West Georgia Street

Vancouver, British Columbia, Canada, V6E 2Y3

Tel. No. (604) 628-5621 ♦ Fax No. (604) 662-7950

ZTR ACQUISITION CORP. DISPOSES OF OIL AND GAS ASSETS

IN DEBT SETTLEMENT TRANSACTION

Vancouver, British Columbia – June 19, 2019 – ZTR Acquisition Corp. (formerly, Oyster Oil and

Gas Ltd.) (the “Company”) announces that it has transferred all of the outstanding share capital of

the Company’s wholly -owned operating subsidiary, Oyster Oil & Gas Limited (“ Subco”), to

Northbay Capital Partners Corp. and Gunsynd PLC (collectively, the “Creditors”), in settlement (the

“Settlement”) of outstanding debts owing to the Creditors in connection with certain convertible

debentures issued by the Company. Pursuant to the Settlement, the Creditors have forgiven

outstanding indebtedness in the principal amount of $1,232,215, including any interest accrued on

this amount.

Subco holds the rights to production sharing contracts in Madagascar and Djibouti . Following

completion of the S ettlement, the Creditors have control of these contracts, and have assumed

responsibility for the management and obligations of Subco. As a result of the Settlement, and the

disposition of Subco, the Company no longer ha s any operating assets and has been notified by the

TSX Venture Exchange (the “Exchange”) that its listing will be transferred to the NEX board of the

Exchange.

The Company anticipates that trading in its common shares will resume on the NEX board of the

Exchange, under the ticker symbol “ZTR.H”, and will provide additional information on timing for

the resumption of trading as soon as it becomes av ailable. For further information concern ing the

Settlement, readers are encouraged to review the management information circular prepared for t he

annual general and special meeting of shareholders of the Company held on June 7, 2019 , a copy of

which is available under the Company’s profile on SEDAR (www.sedar.com).

For further information please contact:

Martin Bajic, Chief Financial Officer

Tel: (604) 628-5621

Fax: (604) 662-7950

This news release contains statements about the Company's expectations regarding the resumption of trading on the

Exchange, and the transfer of its listing to the NEX board of the Exchange , that are forward-looking in nature and, as

a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in

these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may

differ materially from the forward -looking statements and there can be no assurance that such expectations will prove

to be correct. Factors that could cause the actual results to differ ma terially from those in forward -looking statements

include failure to obtain regulatory approval for the resumption of trading, and the availability of financing sources in

connection with the consolidation . The forward -looking statements contained in this news release are made as of the

date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or

information, whether as a result of new information, future events or otherwise, except a required by applicable

securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary

statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is def ined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.