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Share Name | Share Symbol | Market | Type |
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TSXV:STO | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Shelton Canada Corp. ("Shelton" or the "Company") (TSX VENTURE:STO) announces that, subject to regulatory approval, it intends to complete brokered and non-brokered private placements in the form of convertible debentures in an amount of up to $500,000 (the "Debentures"). The terms of the Debenture shall be for one year and simple interest (not compounded) will be payable from time to time at a rate of six (6%) percent per annum calculated monthly. The amount owing on the Debentures may, at the option of the Debenture holder, be convertible into common shares of the Company at a conversion price of $0.12 per common share. Shelton intends to use the proceeds from the private placement for general working capital purposes. About Shelton Canada Corp.: Shelton Canada Corp. (www.sheltoncdn.com), a Canadian-based junior oil and gas company, is focused on exploring and developing the resource-rich basins of Ukraine. The company has an internationally experienced board of directors and a long history of successful operations in Ukraine. These competitive advantages have helped Shelton to build effective personal relationships, strategic regional partnerships, and a large land position and a portfolio of projects on and offshore. Shelton's long-term goals are to become the leader in oil and gas production from the resource-rich Azov and Black Sea basins in five years. Forward-Looking Information Except for statements of historical fact relating to the company, this news release may contain certain "forward-looking information" within the meaning of applicable securities law including opinions, assumptions, estimates and management's assessment of future plans and operations, budgeted capital expenditures and funding thereof. Forward-looking information in this news release is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" "will" or "could" occur. There are uncertainties inherent in forward-looking information, including factors beyond Shelton's control, and no assurance can be given that such events will occur on time or at all. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including the possibility of not achieving the funding mentioned in this press release. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
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