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All amounts are in Canadian Dollars unless otherwise noted
Oceanic Iron Ore Corp. (TSXV: FEO,OTC:FEOVF) ("Oceanic", or the "Company") is pleased to announce that, subject to regulatory approval, it has signed an agreement (the "Agreement") to retain Rose & Company Holdings, LLC ("Rose & Co.") to provide certain investor relation services to the Company, effective immediately, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.
Rose & Co. is a New York based strategic advisory firm dedicated to evaluating, defining and executing strategies to enhance their presence in increasingly globalized and complex capital markets. The Rose & Co. team has decades of capital markets experience from prominent Wall Street firms, including Dahlman Rose & Company, Barclays, Morgan Stanley, and Deutsche Bank. Rose & Co. provides its clients comprehensive services focused on generating positive investor response through investor outreach and engagement. For more information, please visit www.roseandco.com.
Under the Agreement, the Company will pay Rose & Co. US$50,000 per quarter for a term of one year, payable from the Company's cash on hand. Oceanic has a one-time right to terminate the agreement after 6 months. Rose & Co. will not receive any equity compensation for its services.
Rose & Co is at arm's length to the Company, and neither holds any securities of the Company nor has any interest, direct or indirect, in the Company.
Oceanic Iron Ore Corp. (www.oceanicironore.com)
On behalf of the Board of Directors
"Chris Batalha"
CEO and Director
Forward Looking Statements:
This news release includes certain "Forward-Looking Statements" as that term is used in applicable securities law. All statements included herein, other than statements of historical fact, including, without limitation, statements regarding the Study, the assumptions and pricing contained in the Study, the economic analysis contained in the Study, the results of the Study, the development of the Hopes Advance project, mineral resources at the Project, and future plans and objectives of Oceanic are forward-looking statements that involve various risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "scheduled", "objective", "believes", "assumes", "likely", or variations of such words and phrases or statements that certain actions, events or results "potentially", "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. There can be no assurance that such statements will prove to be accurate, and actual results could differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that: (1) there being no significant disruptions affecting operations, whether due to labour/supply disruptions, damage to equipment or otherwise; (2) permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations; (3) certain price assumptions for iron ore; (4) prices for availability of natural gas, fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels; (5) the accuracy of current mineral resource estimates on the Company's property; and (6) labour and material costs increasing on a basis consistent with the Company's current expectations. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risks and Uncertainties " in the Company's most recently filed MD&A (a copy of which is publicly available on SEDAR+ at www.sedarplus.caunder the Company's profile) and elsewhere in documents filed from time to time, including MD&A, with the TSX Venture Exchange and other regulatory authorities. Such factors include, among others, risks related to the ability of the Company to obtain necessary financing and adequate insurance; the ability of the Company to secure a partner for the Project; the economy generally; fluctuations in the currency markets; fluctuations in the spot and forward price of iron ore or certain other commodities (e.g., diesel fuel and electricity); changes in interest rates; disruption to the credit markets and delays in obtaining financing; the possibility of cost overruns or unanticipated expenses; and employee relations. Accordingly, readers are advised not to place undue reliance on Forward-Looking Statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Statements, whether as a result of new information, future events or otherwise.
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.
SOURCE Oceanic Iron Ore Corp.
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