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File: 23395868_1_News Release re_ Debt Settlement - March 2017 .doc

 
1400-1111 West Georgia Street Vancouver, British Columbia V6E 4M3, Canada
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
---> DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

Red Oak Mining Corp. announces Debt Settlement
March 20, 2017

 TSXV
Trading Symbol: ROC.H
 
 
Red Oak Mining Corp. (the "Company") announces that further to the Company's March 17, 2017 press release disclosing t
--->he Company's intention to proceed with a share consolidation on a ratio of ten (10) old shares for each one (1) new sh
--->are (the "Consolidation"), the Company has reached an understanding with certain of its creditors holding an aggregate
---> total $745,000 in Company debt (the "Debt") to settle such Debt in exchange for 14,900,000 post-Consolidation common 
--->shares of the Company at a deemed price of $0.05 per post-Consolidation common share (the "Debt Settlement").
The shares issued under the Debt Settlement will be subject to a four (4) month hold period under Canadian securities 
--->laws.
The Debt Settlement is subject to the acceptance of the TSX Venture Exchange.
On behalf of the Board of Directors
RED OAK MINING CORP. 
"Jay Roberge"
  Jay Roberge CEO, and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.