STO

Shelton Canada Corp. ("Shelton") (TSX VENTURE: STO), a public company listed on the TSX Venture Exchange (TSX-V) (STO) announces that further to its announcement on December 17, 2009, the Plan of Arrangement involving Shelton, its shareholders, Petrosibir Canada Inc. and Petrosibir AB, a Swedish public company, was approved by Final Order of the Court of Queen's Bench on December 19, 2009 and Shelton has filed the Plan of Arrangement for this transaction with Alberta Corporate Registry to become effective as at December 31, 2009. Trading in the common shares of Shelton was halted before opening of trading on the TSX-V on the morning of December 31, 2009. In addition, an application with respect to the delisting of Shelton common shares was filed with the TSX-V with the delisting expected to occur on January 4, 2010. The result of the implementation of the Plan of Arrangement and voluntary delisting of Shelton common shares is that Shelton will be a private company wholly owned by Petrosibir AB.

Zenon Potoczny, President of Shelton stated that "the Board of Shelton is grateful for the interest and co-operation of Shelton shareholders throughout the process of implementation of the Plan of Arrangement. Shelton and Petrosibir AB will assist the Shelton shareholders as they transition their shares of Shelton into Series B shares of Petrosibir AB as much as possible. We are looking forward to being an integral part in the development of a stronger oil and gas company resulting from the business combination of Shelton and Petrosibir AB."

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. With the Plan of Arrangement being put into force Shelton will have a more effective base from which to operate.

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.

Contacts: Shelton Canada Corp. Zenon Potoczny Chief Executive Officer (416) 252-4101 info@sheltoncdn.com www.sheltoncdn.com