Oceanic Completes Repayment of Convertible Debenture With Sino-Canada

Oceanic Iron Ore (TSX-V: FEO) (“Oceanic”, or the “Company”) announces the issuance of 16,734,703 common shares of the Company from treasury in connection with the repayment of a convertible debenture issued by the Company to Sino-Canada Natural Resources Fund I (“Sino-Canada”) on May 23, 2013 and amended under an Amendment Agreement dated for reference on September 18, 2015 (the “Debenture”).

 As noted in the Company’s press release dated November 17, 2017, the amount repaid of $2,043,307.26 comprises a principal balance owing of $2,025,329 plus accrued and unpaid interest up to the maturity date (being November 23, 2017) of $17,978.26.

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