Shelton Canada Corp.
TSX VENTURE : STO

Shelton Canada Corp.

February 02, 2006 15:13 ET

Shelton Canada Corp.: Press Release

EDMONTON, ALBERTA--(CCNMatthews - Feb. 2, 2006) - Shelton Canada Corp. (TSX VENTURE:STO) ("Shelton")is pleased to announce that it has received TSX Venture Exchange final acceptance for a non-brokered private placement of 582,998 flow-through common shares ("Flow-Through Shares) at a price of $0.30 per Flow-Through Share for total proceeds of $175,000 (the "Flow-Through Private Placement") previously announced on January 24, 2006.

Shelton has also received TSX Venture Exchange final acceptance for a non-brokered private placement of 422,143 units ("Units") at a price of $0.28 per Unit for gross proceeds of $118,200 previously announced on January 24, 2006. Each Unit is comprised of one (1) common share and one-half (1/2) common share purchase warrant. Each whole warrant entitles the holder to purchase one (1) additional common share at a price of $0.40 per common share for a period of one (1) year following the date of closing (the "Unit Private Placement")

All common shares are subject to a restricted period expiring on May 1, 2006.

No bonus, finder's fee or commission has been or will be paid in connection with the closing of these private placements.

Shelton intends to use the proceeds from the Flow-Through Private Placement and the Unit Private Placement for general working capital purposes and for exploration and development activity on its oil and natural gas exploration projects.

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
    or
    Shelton Canada Corp.
    Suite 212, 145 Evans Avenue
    Toronto, ON M8Z 5X8