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Gen III Oil Corp. Announces Initial Analyst Coverage Report by Canaccord Genuity Corp.

VANCOUVER, BRITISH COLUMBIA, May. 15, 2018 (GLOBE NEWSWIRE) –

Gen III Oil Corporation (“Gen III” or the “Company“) (TSX VENTURE:GIII) (FRA:PN41) is pleased to announce that Canaccord Genuity Corp. “Canaccord” – a Vancouver, Canada headquartered investment dealer, has published an initial equity analyst research report on the Company.

The research report dated May 10, 2018, entitled “Gen III Oil Corporation. (TSXV. GIII) – Initiation of Coverage: An industry-disrupting oil change.” was written and produced by Associate Analyst, Kimberly Hedlin, CPA, CMA, as an independent analysis of Gen III’s activities and progress.

A copy of the research report may be obtained by contacting a Canaccord Genuity investment advisor or directly from:

Kimberly Hedlin
Associate Analyst | Equity Research
Canaccord Genuity Corp.
Telephone: 403-508-3854
Email: khedlin@canaccordgenuity.com

About Gen III Oil Corp

Gen III Oil is an innovative oil processing company with the most advanced re-refining technology in the industry. The Company’s patented ReGenTM technology process combines proven refining technologies into a proprietary process that is able to extract a higher quantity of high quality base lubricating oils than traditional re-refineries, including greater than 50% Group III production of synthetic grade motor oil in a commercial scale re-refining operation. The Company currently holds 4 patents issued in North America and has several patent applications, patents pending or under review in strategic countries around the world.

The Company’s first full-scale facility is currently under development in Bowden, Alberta, 100km north of Calgary, with targeted production commencing in Q1 of 2019 (the “Project“). With a fully executed off-take marketing agreement in hand with Elbow River Marketing Ltd., a subsidiary of Parkland Fuel Corporation, the Company has in place agreements for the sale of all of its finished products when commercial production begins at its Bowden facility. The Bowden facility is being designed to process 2,800 bpd of used motor oil into a range of base stocks and related petroleum products.

For more information about the Company, please visit www.geniiioil.com.

On Behalf of the Board of Gen III Oil Corporation

“Greg Clarkes”
Greg Clarkes
Chief Executive Officer

For further information contact Greg Clarkes at (604) 806-5275

Suite 1750 – 400 Burrard Street
Vancouver, BC V6C 3A6
Tel: (604) 806-5275 Fax: (604) 806-4875

Neither the 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.

Certain information set forth in this news release may contain forward-looking statements that involve financial projections, substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These include, but are not limited to, the statements regarding the quantity and quality of the re-refined products that might be produced; the cost of construction of the first ReGen™ re-refinery; raising sufficient capital to support the construction of the Project; the estimated operating costs for the Project; the market for the finished products; negotiating off-take agreements for those finished products; and the anticipated annual recurring revenue and EBITDA derived from those operations. Actual results may differ materially from the forward-looking information contained herein. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, except as required by applicable law. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.