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

Shelton Canada Corp. ("Shelton") (TSX VENTURE:STO), a public company listed on
the TSX Venture Exchange (TSX-V) in Canada (STO) announces that further to its
announcement on July 15, 2009 to enter into a Plan of Arrangement with
Petrosibir AB ("Petrosibir") of Sweden, the shareholders of Shelton who voted at
the shareholders' meeting held on December 16, 2009 approved the plan of
arrangement between Petrosibir and Shelton. One hundred (100%) percent of the
shareholders who voted in person or by proxy voted in favour of the Plan of
Arrangement. Subject to the granting of the final order from The Court of
Queen's Bench of Alberta giving final approval to the Plan of Arrangement, the
transaction is expected to close on or about December 31, 2009. After the
closing of the transaction Shelton will become a wholly-owned subsidiary of
Petrosibir and the current shareholders in Shelton will become shareholders of
Petrosibir.


"The merger with Shelton will add four interesting projects in Ukraine to our
asset portfolio. Shelton has a long history of successful operations in Ukraine
which I am looking forward to building on. I am looking forward to working with
Zenon Potoczny, Richard Edgar and Bruce Hirsche, currently directors of Shelton,
who have accepted to stand for election to the board of Petrosibir in January"
says Robert Karlsson, CEO of Petrosibir.


"We are very happy that the strong merits we see in a combination with
Petrosibir are recognized by our shareholders. Shelton's shareholders will
become part of a larger corporation with excellent potential in development of
its Russian and Ukrainian assets. I am looking forward to working in an
operating role in our new combined business" says Zenon Potoczny, CEO of
Shelton.


About Shelton Canada Corp.:

Shelton Canada Corp. (www.sheltoncdn.com), 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.


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.