Deal sells units of flow-through shares, half-share warrants at C$0.35
By Devika Patel
Knoxville, Tenn., Dec. 16 - Oceanic Iron Ore Corp. said it has arranged a C$2.01 million non-brokered private placement of units.
The company will sell 5.75 million units of one flow-through common share and a half-share warrant at C$0.35 per unit.
Each whole warrant will be exercisable at C$1.00 for five years. The strike price reflects a 270.37% premium to the Dec. 15 closing share price of C$0.27.
Oceanic is an iron ore exploration company based in Vancouver, B.C.
| Issuer: | Oceanic Iron Ore Corp.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$2,012,500
|
| Units: | 5.75 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: FEO
|
| Stock price: | C$0.27 at close Dec. 15
|
| Market capitalization: | C$43.11 million
|
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