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MONTREAL, QUEBEC--(Marketwired - Nov. 30, 2015) - Oceanic Iron Ore Corp. ("Oceanic", or the "Company") (TSX VENTURE:FEO) announces the issuance of 318,674 common shares of the Company from treasury in connection with the partial settlement of its $100,000 2015 advance royalty payment to SPG Royalties Inc. ("SPG").
The partial settlement of its advanced royalty payment is pursuant to the terms of an amendment in respect of its royalty agreement with SPG (the "Amendment"), originally announced on November 4, 2015. Pursuant to the Amendment, the Company made a partial cash payment of $50,000 on November 30, 2015, with the remaining $50,000 balance settled through the issuance of the above noted common shares of the Company. |
