SHELTERED OAK CLOSES PRIVATE PLACEMENT
2010年12月22日 - 10:30PM
PR Newswire (Canada)
TORONTO, Dec. 22 /CNW/ -- UPDATE ON KERRS PROPERTY Trading Symbol:
TSX-V OAK TORONTO, Dec. 22 /CNW/ - Sheltered Oak Resources Corp.
("OAK" or the "Company") (TSXV:OAK) today announced the completion
of a non-brokered private placement that was first announced on
November 18, 2010. The private placement consisted of 5,000,000
units of the Company (the "Units") at a price of $0.105 per Unit,
for gross proceeds of $525,000. Each Unit is comprised of one
Common Share and one-half of one Common Share purchase warrant
(each whole warrant, a "Warrant"). Each Warrant entitles its
holder to acquire a Common Share at an exercise price of $0.135 per
share for a period of 18 months from today's closing date. In
connection with the private placement, the Company has agreed to
pay Canaccord Genuity Corp. ("Canaccord") and Dominick &
Dominick Securities Inc. ("D & D Securities") a cash finder's
fee of $42,000 which represents 8% of the gross proceeds and to
issue 400,000 finder's fee options (the "Finder's Options") which
represent 8% of the number of Units issued in the private
placement. Each Finder's Option entitles the holder to
acquire one Common Share for a period of 18 months from the date of
closing at an exercise price of $0.135 per share. After these
closings, there are 76,387,235 issued and outstanding Common Shares
of Sheltered Oak Resources Corp. Richbert Agencies S.A.
("Richbert") was the sole subscriber for the private
placement. The Common Shares issued today are subject to a
four month hold period ending April 22, 2011. In connection
with the private placement, Richbert sold 5,000,000 Common Shares
through the facilities of the TSX Venture Exchange to purchasers
arranged by Canaccord and D & D Securities on November 18,
2010. The Company will use the proceeds for further exploration on
the Kerrs Property and for working capital purposes. OAK also
announced that it has entered into a contract for a December, 2010
geophysical survey to be performed at 50-metre intervals, on its
mining claims in the Lake Abitibi area. OAK also expects to
announce for the first time a mineral resource estimate in January
2011 followed by the filing of a technical report in accordance
with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects. ABOUT SHELTERED OAK RESOURCES CORP. Sheltered Oak
Resources Corp. is focused on mineral exploration opportunities
within Canada and owns a 100% interest in 42 mining claims
including one mining lease totaling 4,672 hectares 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. This
news release contains certain information that constitutes
forward-looking statements such as the completion of the
geophysical survey and announcing a mineral resource
estimate. 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 including the
results of the exploration program. 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/December2010/22/c7158.html
table cellspacing="0" border="1" class="cnwBorderedTable"tr
valign="top"td align="center"bSheltered Oak Resources Corp./bbr/
J.J. Elkinbr/ President and CEObr/ (T) 416-628-5802br/ (F)
416-628-5051br/ (E) a
href="mailto:jj@shelteredoak.com"jj@shelteredoak.com/a/td td
align="center"bSheltered Oak Resources Corp/b.br/ Art Hampsonbr/
Chief Financial Officerbr/ (T) 416-628-5802br/ (F) 416-628-5051br/
(E)a
href="mailto:ahampson@shelteredoak.com"ahampson@shelteredoak.com/a/td
td nowrap="nowrap" align="center"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"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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