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Oceanic Iron Ore ( (TSE:FEO) ) just unveiled an announcement.
Oceanic Iron Ore Corp. announced a private share transaction where Sino-Canada Natural Resources Fund I sold over 12 million common shares to a group of purchasers, including company insiders. This transaction does not alter the total number of issued shares but results in significant ownership changes. Notably, Frank Giustra, through his entities, has increased his stake to over 21% of the company’s shares, with potential to control more through convertible debentures. This move could impact the company’s strategic direction and influence in the market. Meanwhile, Gordon Keep’s shareholding has decreased, resulting in him no longer being a 10% holder, which may affect his influence within the company.
More about Oceanic Iron Ore
Oceanic Iron Ore Corp. operates in the mining industry, focusing on the exploration and development of iron ore properties. The company is primarily engaged in the extraction and sale of iron ore, catering to the global steel production market.
Average Trading Volume: 160,110
Technical Sentiment Signal: Buy
Current Market Cap: C$41.14M
See more insights into FEO stock on TipRanks’ Stock Analysis page.