SHELTERED OAK CLOSES PRIVATE PLACEMENT
31 Décembre 2010 - 9:54PM
PR Newswire (Canada)
TORONTO, Dec. 31 /CNW/ -- Trading Symbol: TSX-V OAK TORONTO, Dec.
31 /CNW/ - Sheltered Oak Resources Corp. ("OAK" or the "Company")
(TSXV: OAK) today announced the completion of a 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. Each Unit is comprised of one common share
in the capital of the Company (a "Common Share") and one-half of
one Common Share purchase warrant (each whole warrant, a
"Warrant"). Each whole warrant shall entitle its holder to acquire
a Common Share at an exercise price of $0.12 per share for a period
of 18 months from the date of closing. The common shares
issued are subject to a four-month hold period ending April 30,
2011. Richbert Agencies S.A. subscribed for the full Private
Placement and, with this issuance, Richbert now holds 10.6% of the
78,487,235 issued and outstanding shares of the Company. These
Common Shares acquired by Richbert today represent approximately
2.7% of the issued and outstanding Common Shares and assuming
exercise of the Warrants, the acquired securities would represent
approximately 4% of the then issued and outstanding Common Shares.
The Common Shares were acquired by Richbert to maintain its
previous holdings in the Company and for investment purposes.
Richbert may, from time to time, acquire additional Common Shares,
dispose of some or all such Common Shares or may continue to hold
such Common Shares. Before today's acquisition, Richbert held
6,250,000 Common Shares and 7,500,000 warrants. Richbert
therefore currently now owns 8,350,000 Common Shares representing
10.6% of the issued and outstanding Common Shares and 8,550,000
warrants. Assuming the exercise of Richbert's warrants and JJ
Elkin's options (as Richbert's joint actor), Richbert and its joint
actor would own in the aggregate 17,707,689 Common Shares
representing approximately 20% of the then issued and outstanding
Common Shares. For further information and to obtain a copy
of the early warning report, filed under applicable Canadian
securities laws in connection with the transactions hereunder,
please see OAK's profile on the SEDAR website at www.sedar.com. The
Company will use the proceeds for further exploration on the Kerrs
Property and for working capital purposes. 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. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/31/c8257.html
p/p p align="justify"Richbert Agencies S.A.br/ 1 St. James
Crescentbr/ #4 St. James Villagebr/ Hamilton Parish FL04 Bermudabr/
(441) 293-2565/p table cellspacing="0" border="1"
class="cnwBorderedTable"tr valign="top"td align="center"
nowrap="nowrap"bSheltered Oak/bbRes/bbources Corp./bbr/ J.J
Elkinbr/ President and CEObr/ (T) 416-628-5802br/ (F)
416-628-5051br/ (E) a href="mailto:jj@shelteredoak.com"jj@s/aa
href="mailto:jj@shelteredoak.com"helteredoak.com/a/td td
align="center" nowrap="nowrap"bSheltered Oak R/bbesources
Corp/b.br/ Art Hampsonbr/ Chief Financial Officerbr/ (T)
416-628-5802br/ (F) 416-628-5051br/ (E)a
href="mailto:ahampson@shelteredoak.com"ahampson@sh/aa
href="mailto:ahampson@shelteredoak.com"elteredoak.com/a/td td
align="center" nowrap="nowrap"bCHF Investor Relatio/bbns/bbr/
Jeanny Sobr/ Director of Operationsbr/ (T)416 868 1079 ext. 225br/
(F)416 868 6198br/ (E)a href="mailto:jeanny@chfir.com"jeanny/aa
href="mailto:jeanny@chfir.com"@chfir.com/a/td td align="center"
nowrap="nowrap"bCHF Investor/bbRelations/bbr/ Chris Haldanebr/
Account Managerbr/ (T)416 868 1079 ext. 237br/ (F)416 868 6198br/
(E)a href="mailto:chris@chfir.com"chris@/aa
href="mailto:chris@chfir.com"chfir.com/a/td/tr/table
Copyright
Sheltered Oak Resources Corp. (TSXV:OAK)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Sheltered Oak Resources Corp. (TSXV:OAK)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024
Real-Time news about Sheltered Oak Resources Corp. (TSX Venture Exchange): 0 recent articles
Plus d'articles sur Sheltered Oak Resources Corp.