Press Release |
Sheltered Oak Resources Corp. Grants Stock Options
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TORONTO, ONTARIO, Jun 17 (MARKET WIRE) -- Sheltered Oak Resources Corp. ("OAK" or the "Company") (TSX VENTURE: OAK) announces that on May 26, 2011 it granted stock options to directors and officers of OAK to purchase in the aggregate up to 2,705,000 common shares ("Common Shares") in the capital of OAK at an exercise price of $0.11 per Common Share. The stock options will expire on May 26, 2016. The options were granted pursuant to OAK's incentive stock option plan, under which a maximum of 10% of the issued and outstanding Common Shares are reserved for issuance. The vesting period is 1/3 immediately, 1/3 after 6 months and 1/3 after 12 months. On May 30, 2011 the Company also granted stock options to J.J. Elkin to purchase in the aggregate up to 1,750,000 Common Shares in the capital of OAK at an exercise price of $0.13 per Common Share as part remuneration for his continued services as President and Chief Executive Officer through Richbert Agencies S.A. The vesting period is 1/3 immediately, 1/3 after 6 months and 1/3 after 12 months. The current number of issued and outstanding Common Shares is 95,049,234. ABOUT SHELTERED OAK RESOURCES CORP. Sheltered Oak Resources Corp. is focused on mineral exploration opportunities in northeastern Ontario and owns a 100% interest in 26 mining claims, one mining claim under option and one mining lease which comprise the Kerrs gold property located approximately 90 kilometres east-northeast of Timmins and 70 kilometres north of Kirkland Lake. 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. Contacts: Sheltered Oak Resources Corp. J.J Elkin President and CEO 416-628-5802 416-628-5051 (FAX) firstname.lastname@example.org Sheltered Oak Resources Corp. Art Hampson Chief Financial Officer 416-628-5802 416-628-5051 (FAX) email@example.com CHF Investor Relations Jeanny So Director of Operations 416-868-1079 ext. 225 416-868-6198 (FAX) firstname.lastname@example.org Copyright 2011, Market Wire, All rights reserved. -0-