Starrex Announces Appointment of New President and Chief Executive Officer

TORONTO, ONTARIO--(Marketwired - Nov. 1, 2016) - Starrex International Ltd. ("Starrex" or the "Company") (CSE:STX) announces that its board of directors has unanimously appointed Matthew Hill as the Company's new President, Chief Executive Officer and Chairman of the Board. He has also been appointed as a member of the Audit Committee. Mr. Hill, who previously served as the Company's Senior Vice President, replaces Philip Garrett Clayton who resigned those offices in order to devote more of his time to his other business interests. Mr. Clayton will continue to be involved in the affairs of the Company as one of its directors.

The board of directors looks forward to the anticipated further development of the Company under the leadership of Mr. Hill through organic growth of its existing business and through strategic acquisitions to add to its mortgage appraisal businesses and to expand into related fields that can provide synergies and growth, all with a view to enhancing shareholder value.

The board of directors also wishes to express their appreciation to Mr. Clayton for his efforts and dedication to the Corporation over the past three years, overseeing its transformation to an active business in the United States mortgage services industry. The board further welcomes his continuing involvement as a director of the Company.

The Company is pursuing an application to the Ontario Securities Commission to revise the existing management cease trade order to accommodate the change of its Chief Executive Officer.

This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Starrex believes, expects or anticipates will or may occur in the future are forward-looking statements, including statements regarding the plans, goals and expectations for the newly-acquired company and for Starrex as a result of the acquisition noted above. This forward-looking information is subject to a variety of risks and uncertainties beyond Starrex's ability to control or predict that may cause actual events or results to differ materially from those described in such forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Starrex disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Starrex believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on this forward-looking information due to the inherent uncertainty thereof.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this press release.