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Oceanic Iron Ore Corp V.FEO

Alternate Symbol(s):  FEOVF

Oceanic Iron Ore Corp. is a Canada-based exploration-stage company. The Company is engaged in the acquisition and exploration of iron ore properties in Quebec, Canada. The Company is focused on the development of the Ungava Bay iron properties in Nunavik, Quebec. The properties comprise three project areas: Hopes Advance, Morgan Lake, and Roberts Lake. The properties cover over approximately 36,039 hectares of iron ore formation and are located within 20-50 kilometer of tidewater. These properties comprise approximately 3,703 claims which are located over 1,568 square kilometers along the northern extension of the Labrador Trough in the Nunavik Region of northern Quebec. The projects cover over 300 kilometers of iron formation.


TSXV:FEO - Post by User

Post by helpline88on Aug 21, 2022 10:11pm
148 Views
Post# 34910471

Re: Raising funds

Re: Raising fundsI doubt they will issue shares to raise money. They will raise money by way of issuing high interest convertible debentures that will have priority over common shares in the event of some sort of distribution. Why own shares when you can earn high interest on the depentures. They basically raise money, not for moving the project forward, but to pay themselves interest. 
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