Shelton Canada Corp. (TSX Venture: STO) announces that, subject to regulatory approval, it intends to complete a non-brokered offering of 4,000,000 units at a price of $0.25 per Unit for gross proceeds of $1,000,000 by way of a private placement (the "Private Placement"). Each Unit is comprised of one common share and one-half Common Share purchase warrant. Each whole warrant entitles the holder to purchase one additional Common Share at a price of $0.40 per Common Share for a period of eighteen months following the date of closing.
Shelton intends to use the proceeds from the Private Placement for general working capital purposes.
Shelton, a junior oil and gas company listed on the TSX Venture Exchange, holds interests in producing properties located in northeastern British Columbia and north central Alberta. Shelton also holds petroleum and natural gas concessions in southern Ukraine.