CALGARY, ALBERTA--(Marketwired - Dec. 15, 2015) - GRANITE OIL CORP. ("Granite") (TSX:GXO) (OTCQX:GXOCF) is pleased to announce that a dividend of $0.035 per common share will be paid in cash on January 15, 2016 to shareholders of record on December 31, 2015 with an ex-dividend date of December 29, 2015. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.

Contact Information:

Granite Oil Corp.
Michael Kabanuk
President & CEO
(587) 349-9123

Granite Oil Corp.
Jonathan Fleming
E.V.P.
(587) 349-9118