Oceanic Iron Ore (TSE:FEO) has released an update.
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Oceanic Iron Ore Corp. has announced a new non-brokered convertible debenture financing aimed at raising up to $2,385,000. The debentures offer an 8.5% annual interest rate and are convertible into company units, which include common shares and purchase warrants. The funds will be used for strategic partner negotiations, claims maintenance, and general corporate purposes.
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