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*Toro Oil & Gas Ltd. 
Listed Company 

TORO OIL & GAS LTD. ("TOO")
BULLETIN TYPE: Consolidation
BULLETIN DATE: December 11, 2014
TSX Venture Tier 2 Company

Pursuant to a special resolution passed by shareholders November 20, 2014, the Company has consolidated its capital on a (25) twenty-five old for (1) one new basis. The name of the Company has not been changed.

Effective at the opening on Monday, December 15, 2014, the common shares of Toro Oil & Gas Ltd. will commence trading on TSX Venture Exchange on a consolidated basis. The Company is classified as an ?Oil and Gas Extraction? company.

Post - Consolidation
Capitalization: Unlimited shares with no par value of which
34,215,959 shares are issued and outstanding
Escrow Nil shares

Transfer Agent: Alliance Trust Company
Trading Symbol: TOO (UNCHANGED)
CUSIP Number: 891099202 (NEW)
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