Correction to previous post re: OAK-v Share Structure given NR today (see below).

Should be 30 million shares out and approximately 53.3% held by insiders. Of note, in last 12.87 million share PP 5.5 million shares were subscribed to by new President J.J. Elkin with another 588k subscribed to other insider David S. Kertland. That's a $550,000 investment in the Company by its new President, J.J. Elkin and he has only been on the job for 1 month. He now controls 18.3% of company on his own. Combined, J.J. Elkin and the Hansons (CEO and brother? Telfer) control about 34.3% of company. Great to see.

red911

Here is detailed breakdown of key insders and their holdings as of February 13, 2009:

as of Date Insider Common Shares

2/11/2009 Elkin, Jacob Joseph (Richbert Agencies SA) 5,500,000

8/28/2008 Hanson, Robert K. (Thames Capital (Bermuda) Ltd.) 1,689,800

8/28/2008 Hanson, Telfer (Thames Capital (Bermuda) Ltd.) 1,689,800

8/28/2008 Hanson, Robert K. 1,482,759

12/19/2008 Kertland, David 1,088,200

8/28/2008 Sage Gold Inc. 672,516

8/28/2008 Hight, Ken C. 671,806

7/20/2007 Taylor, Craig 500,000

8/28/2008 Hanson, Robert K. (RKH Limited) 457,684

8/28/2008 Hanson, Telfer (RKH Limited) 457,684

11/3/2008 Morris, Patrick 438,640

8/28/2008 Angus, John Forrest 331,871

10/20/2008 Hanson, Telfer 320,632

2/11/2009 Elkin, Jacob Joseph 243,253

8/28/2008 Betts, Norman Murray 235,089

TOTAL 15,779,734

As of Date Warrants

2/11/2009 Elkin, Jacob Joseph (Richbert Agencies SA) 2,750,000

8/28/2008 Sage Gold Inc. 1,868,100

12/19/2008 Kertland, David 294,100

8/28/2008 Hanson, Robert K. (RKH Limited) 228,842

8/28/2008 Hanson, Telfer (RKH Limited) 228,842

2/11/2009 Elkin, Jacob Joseph 121,627

TOTAL 5,491,511

As of Date Options

1/7/2009 Elkin, Jacob Joseph 489,831

1/7/2009 Hanson, Robert K. 471,375

1/7/2009 Angus, John Forrest 236,515

8/28/2008 Hanson, Robert K. (RKH Limited) 198,000

8/28/2008 Hanson, Telfer (RKH Limited) 198,000

1/7/2009 Betts, Norman Murray 196,515

1/7/2009 Hight, Ken C. 196,515

1/7/2009 Kertland, David 170,994

10/28/2008 Morris, Patrick 153,250

10/28/2008 Hubacheck, Peter 126,250

7/20/2007 Taylor, Craig 125,000

TOTAL 2,562,245

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Sheltered Oak closes $467,500 third-tranche offering

2009-02-13 15:45 ET - News Release

Mr. Robert Hanson reports

COMPLETION OF THIRD TRANCHE OF PRIVATE PLACEMENT

Sheltered Oak Resources Corp. has completed the third tranche of its previously announced private placement consisting of an additional 5.5 million units of the company at a price of 8.5 cents per unit, for aggregate proceeds of $467,500. Each unit consists of one common share of the company and one-half of one common share purchase warrant as further described in a news release in Stockwatch dated Dec. 22, 2008. All 5.5 million units issued in this tranche were acquired by Richbert Agencies S.A. and are subject to a hold period expiring June 13, 2009.

The 5.5 million common shares acquired by Richbert represent 18.3 per cent of the issued and outstanding common shares. Assuming the exercise of the 2.75 million warrants, Richbert would own 25.2 per cent of the issued and outstanding common shares. Jacob Joseph Elkin may be considered to be acting jointly or in concert with Richbert. Mr. Elkin is a director and officer of the company and owns 489,831 stock options of the company. Assuming the exercise of Richbert's 2.75 million warrants and the exercise of Mr. Elkin's 489,831 stock options, Richbert and Mr. Elkin would own in the aggregate 8.73 million common shares representing 26.3 per cent of the then issued and outstanding common shares. Further information required by securities legislation is available in an early warning report dated Feb. 13, 2009, filed by Richbert via SEDAR under filings for the company. A copy of the early warning report may also be obtained by contacting the company.

In connection with the private placement, the company paid a finder's fee of $33,400 to Deacon & Company Capital Markets Inc. The company also issued non-transferable compensation options entitling Deacon & Company Capital Markets Inc. to purchase 392,944 units of the company.

The company will use the proceeds from the private placement for further exploration on the Kerrs property and for working capital purposes.