Sheltered Oak closes private placements

On December 30, 2010, Sheltered Oak Resources Corp. (TSXV: OAK) announced the completion of a private placement consisting of 2.1 million units of the company for aggregate proceeds of $189,000. Each Unit is comprised of one common share in the capital of the company 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.

This followed a non-brokered private placement completed on December 22, 2010, consisting of five million units of the company for gross proceeds of $525,000. Each Unit is comprised of one Common Share and one-half of one Common Share purchase 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 the closing date.

Sheltered Oak was advised in both of these transactions by Nancy Eastman of Fasken Martineau.