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

The Company will use the proceeds for further exploration on the Kerrs Property and for working capital purposes.


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.

For further information: For further information:

Richbert Agencies S.A.
1 St. James Crescent
#4 St. James Village
Hamilton Parish FL04 Bermuda
(441) 293-2565

Sheltered OakResources Corp.
J.J Elkin
President and CEO
(T) 416-628-5802
(F) 416-628-5051
Sheltered Oak Resources Corp.
Art Hampson
Chief Financial Officer
(T) 416-628-5802
(F) 416-628-5051
CHF Investor Relations
Jeanny So
Director of Operations
(T)416 868 1079 ext. 225
(F)416 868 6198
CHF InvestorRelations
Chris Haldane
Account Manager
(T)416 868 1079 ext. 237
(F)416 868 6198

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890