Shelton Canada Corp.

Shelton Canada Corp.

September 15, 2005 15:57 ET

Shelton Canada Corp.: News Release

TORONTO, ONTARIO--(CCNMatthews - Sept. 15, 2005) - Shelton Canada Corp. ("Shelton") (TSX VENTURE:STO) announces that it has issued a total of 1,875,000 common shares at a deemed price of $0.18 per common share pursuant to the conversion of a debt owing pursuant to a convertible debenture. The convertible debenture was issued as partial consideration with respect to Shelton's Qualifying Transaction which was approved by the TSX Venture Exchange on October 17, 2000. The common shares will have a hold period expiring on January 14, 2006.

In the opinion of management, the conversion of this debt will improve Shelton's Balance Sheet.

Shelton is a junior oil and gas company listed on the TSX Venture Exchange holding an interest in production properties located in northeastern British Columbia, near Lloydminster, Alberta and north of Edmonton on the Alexander Indian Reserve. Shelton also holds petroleum and natural gas concessions in the southern Ukraine.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Shelton Canada Corp.
    Zenon Potoczny
    President & CEO
    (416) 252-4101
    Suite 212, 145 Evans Avenue
    Toronto, ON M8Z 5X8