Sheltered Oak Resources Corp. Proposes a Non-Brokered Private Placement
29 Ottobre 2010 - 2:05PM
PR Newswire (Canada)
TORONTO, Oct. 29 /CNW/ -- Trading Symbol: TSX-V OAK TORONTO, Oct.
29 /CNW/ - Sheltered Oak Resources Corp. ("OAK" or the "Company")
proposes to complete a non-brokered private placement (the "Private
Placement") for aggregate proceeds of $189,000, consisting of
2,100,000 units of the Company (the "Units") at a price of $0.09
per Unit. Richbert Agencies S.A. ("Richbert") is expected to
subscribe for the full Private Placement. Each Unit shall be
comprised of one common share in the capital of the Company and
one-half of one common share purchase warrant (each whole warrant,
a "Warrant"). Each Warrant shall entitle its holder to
acquire a common share in the capital of the Company at an exercise
price of $0.12 per share for a period of eighteen months from the
date of closing. The Company will use the proceeds from the private
placement for further exploration on the Kerrs Property and for
working capital purposes. Subject to TSX Venture Exchange approval,
the Company expects to close the Private Placement in about two
weeks time. ABOUT SHELTERED OAK RESOURCES CORP. Sheltered Oak
Resources Corp. is a British Columbia corporation with its head
office located in Oakville, Ontario. OAK is focused on mineral
exploration opportunities within Canada and owns a 100% interest in
43 mining claims and 12 mining leasehold patents totaling 19,099
acres which comprise the Kerrs Gold Property, located in the
prolific area of the Abitibi Greenstone Belt in northeastern
Ontario. 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. Forward-Looking Statements. This news
release contains certain information that constitutes
forward-looking statements such as the completion of the Private
Placement. Forward-looking statements are frequently characterized
by words such as "plan," "expect," "project," "intend," "believe,"
"anticipate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking
statements are based on the opinions and estimates of management at
the date the statements are made, and are subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements. The Company disclaims any obligation to
update or revise any forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking
statements. To view this news release in HTML formatting, please
use the following URL:
http://www.newswire.ca/en/releases/archive/October2010/29/c7084.html
table cellspacing="0" class="cnwBorderedTable" border="1"tr
valign="top"td align="center" valign="top"bSheltered Oak Resources
Corp./bbr/ J.J. Elkinbr/ President and CEObr/ (E)a
href="mailto:des874@aol.com"des874@aol.com/a/td td align="center"
valign="top"bSheltered Oak Resources Corp/b.br/ Art Hampsonbr/
Chief Financial Officerbr/ (T)905 827 5414br/ (F)905 847 9575br/
(E)a
href="mailto:ahampson@shelteredoak.com"ahampson@shelteredoak.com/a/td
td align="center" valign="top"bCHF Investor Relations/bbr/ Jeanny
Sobr/ Director of Operationsbr/ (T)416 868 1079 ext. 225br/ (F)416
868 6198br/ (E)a
href="mailto:jeanny@chfir.com"jeanny@chfir.com/a/td td
align="center" valign="top"bCHF Investor Relations/bbr/ Chris
Haldanebr/ Account Managerbr/ (T)416 868 1079 ext. 237br/ (F)416
868 6198br/ (E)a
href="mailto:chris@chfir.com"chris@chfir.com/a/td/tr/table
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