Shelton Canada Corp.: Special and Annual Meeting to Be 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) and Petrosibir AB
("Petrosibir"), a Swedish public company listed on the Nordic Growth Market in
Stockholm, Sweden (PETS) announce that further to the announcements concerning
the intended business combination, on Friday, October 23, 2009, an application
was successfully made before Justice Allan Wachowich of the Court of Queen's
Bench of Alberta (the "Court") for approval of an Interim Order for Shelton to
proceed, pursuant to section 193 of the Business Corporations Act (Alberta)
("ABCA"), to convene an annual and special meeting of the holders of Shelton's
issued and outstanding shares in connection with, among other things, a proposed
plan of arrangement involving Petrosibir, Petrosibir Canada Inc. ("PCI"),
Shelton and the holders of Shelton's shares.


Summary of Court Order

The Court granted an Interim Order on October 23, 2009 (the "Court Order")
approving a proposed plan of arrangement (the "Arrangement") pursuant to section
193 of the ABCA. The Arrangement is described in an arrangement agreement (the
"Arrangement Agreement") between Shelton, PCI and Petrosibir and dated as of
July 15, 2009, as amended by Amending Agreement dated as of October 17, 2009.
The Arrangement Agreement is attached to Shelton's management Information
Circular which will be sent to Shelton Shareholders in connection with the
special and annual meeting ("Information Circular").


Notice of Meeting

Under the Court Order granted on October 23, 2009, the only persons entitled to
notice of the Meeting (the "Notice") shall be the registered shareholders of
Shelton, as applicable, as they may appear on the records of Shelton as at the
close of business on the record date for the Meeting, the directors, the
auditors of Shelton and the Executive Director. The Notice, including the
Information Circular among other documents, will be mailed or delivered at least
21 days prior to the day of the Meeting (exclusive of the day of mailing or
delivery but inclusive of the day of the Meeting).


Originally Shelton and Petrosibir announced that they hoped to have the special
and annual meeting on or about November 6, 2009. Due to delays encountered in
finalization of reports and obtaining input from sources of information
including professional service advisors in connection with preparation of the
Information Circular it has been necessary to postpone the meeting. It is
expected that the meeting will now be held on or before December 15, 2009.


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.


About Petrosibir AB:

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. BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.