Sheltered Oak Closes Private Placement

TORONTO, Dec. 30 /CNW/ -- 
Trading Symbol: TSX-V OAK


TORONTO, Dec. 30 /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 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.


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/December2010/30/c8133.html



table border="1" cellspacing="0" class="cnwBorderedTable"tr valign="top"td valign="top" 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:[e-mail]"[e-mail]/a/td td valign="top" 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:[e-mail]"[e-mail]/a/td td valign="top" 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:[e-mail]"[e-mail]/a/td td valign="top" align="center"bCHF Investor Relations/bbr/ Chris Haldanebr/ Account Managerbr/ (T)416 868 1079 ext. 237br/ (F)416 868 6198br/ (E)a href="mailto:[e-mail]"[e-mail]/a/td/tr/table

Copyright