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SHELBY VENTURES INC. ANNOUNCES ISSUANCE OF SHARES FOR DEBT SETTLEMENT AND THE CLOSING OF A NON-BROKERED PRIVATE PLACEMENT
Mar. 9, 2011 (TheNewswire.ca) -- Vancouver, B.C. March 9, 2011 - SHELBY VENTURES INC. ("Shel...
About this update from Solution Financial Inc.
[{"type":"text","content":"\nSHELBY VENTURES INC. ANNOUNCES ISSUANCE OF SHARES FOR DEBT SETTLEMENT AND THE CLOSING OF A NON-BROKERED PRIVATE PLACEMENT\n\n Mar. 9, 2011 (TheNewswire.ca) -- Vancouver, B.C. March 9, 2011 - SHELBY VENTURES INC. (\"Shelby\" or the \"Company\") announces that further to the Company's news release of January 19, 2011 the Company has settled a total of $169,463.50 of debt by the issuance of a total of 3,389,720 common shares of the Company at a deemed price of $0.05 per share.All Shares issued under the shares for debt settlement have a hold period expiring July 3, 2011.The TSX Venture Exchange also approved the Company's $0.05 private placement. Further to the Company's news release dated January 19, 2011, in order to maintain full compliance under Section 2.4 of the TSX Venture Exchange policy - Capital Pool Companies, two new insiders of the Company, have subscribed as to 400,000 common shares each, at a price of $0.05 per share, for gross proceeds of $40,000.00. There was no finder's fee payable in connection with this private placement.All Shares issued under the private placement have a hold period expiring July 9, 2011.About Shelby Ventures Inc.The Company is a Capital Pool Company, currently listed on the NEX Board of the TSX Venture Exchange. Management of the Company is actively engaged in assessing possible projects with a view to completing a Qualifying Transaction. Management's efforts have been focused on the resource sector. The funding currently undertaken by the Company will be utilized to further this process as well as potentially fund any proposed Qualifying Transaction.BY ORDER OF THE BOARDCopyright (c) 2011 Thenewswire.ca - All rights reserved.\n\n\n\n","length":1854,"tagName":"div"}]