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Oceanic Iron Ore ( (TSE:FEO) ) has issued an update.
Oceanic Iron Ore Corp. has announced the settlement of $139,666 in accrued interest from its convertible debentures by issuing 581,943 common shares at a price of $0.24 per share. This strategic move allows the company to manage its financial obligations while potentially enhancing shareholder value through equity distribution.
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 engaged in producing iron ore, which is a critical raw material for steel production, positioning itself in the market to meet demands in the steel manufacturing sector.
Average Trading Volume: 108,466
Technical Sentiment Signal: Buy
Current Market Cap: C$27.22M
For a thorough assessment of FEO stock, go to TipRanks’ Stock Analysis page.