TORONTO, ONTARIO - Oct. 7, 2008) - David A. Bending, President and CEO of Shoreham Resources Ltd. (TSX VENTURE:SMH) is pleased to announce the closing of the private placement (News Release 2008-11, dated August 20, 2008). The Company received $638,700 in subscription agreements for the purchase of 3,193,500 common shares of the Company plus 3,193,500 warrants. Each warrant allows the holder to purchase one common share of the Company at a price of $0.35 for a period of 18-months, or 30-days from the announcement date, if issued by the Company when the price of the common shares trade for $0.55 or more for 20 consecutive days. Three insiders subscribed for 2,674,833 common shares and warrants. Finder's fees in the amount of 164,000 common shares have also been issued in regards to this private placement to the following:
- David Taylor (Vancouver BC) 34,000 shares
- Jeff Pronk (Calgary AB) 7,500 shares
- Mulgravian Ventures Corp. (Vancouver BC) 100,000 shares
- Jason Rucker (Burlington ON) 12,500 shares
- Murray Machem (Langley BC) 5,000 shares
- Granite Associates (Mississauga ON) 5,000 shares
-------
Total Finder's Fee Common Shares Owed 164,000 shares
-------
The Company would also like to announce that Exchange approval to issue 100,000 common shares of the Company in satisfaction of the initial payment requirement of $10,000 in cash or shares to RPT Uranium Corp. (formerly Rampart Ventures Ltd.), pursuant to the Property Option Agreement for the Bear Head Lake Uranium Property (see News Release 2007-05, March 27, 2007) has been granted.
For further information regarding the Company please visit our website at www.shoreham.ca, or our Investor Relations Hub at www.agoracom.com/IR/Shoreham where you can post questions and receive answers or review questions and answers already posted by other investors, or contact our Investor Relations Representative, Mr. Mike Kachanovsky via email at mike@shoreham.ca.
The TSX-V Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Shoreham Resources Ltd.
Mr. Mike Kachanovsky
Investor Relations Representative
(416) 867-1101
Fax: (416) 867-1222
Email: mike@shoreham.ca
Website: www.shoreham.ca
