Oceanic Iron Closes Private Placement

Oceanic Iron Ore (TSXV:FEO,OTCQX:FEOVF) announced it has closed a private placement, raising gross proceeds of $3,049,750. The company had issued 15,248,750 units with each unit consisting of one common share and one share purchase warrant allowing the holder to purchase an additional common share for $0.30 until April 9, 2017.

According to the press release:

The Company issued 15,248,750 units (the “Units”) at a price of $0.20 per unit for gross proceeds of $3,049,750 (the “Offering”). Each Unit consists of one common share in the capital of the Company and one share purchase warrant entitling the holder to purchase one additional common share in the capital of the Company at a price of $0.30 per share until April 9, 2017.

The securities issued by the Company in connection with this Offering are subject to a 4-month “hold period” expiring on February 10, 2015 as prescribed by the TSX Venture Exchange and applicable securities laws.

Click here to read the Oceanic Iron Ore Corp. (TSXV:FEO,OTCQX:FEOVF) press release