Business
OCEANIC ANNOUNCES REPLACEMENT OF PREVIOUSLY ISSUED SERIES B CONVERTIBLE DEBENTURE
OCEANIC ANNOUNCES REPLACEMENT OF PREVIOUSLY ISSUED SERIES B CONVERTIBLE DEBENTURE Canad...
About this update from Oceanic Iron Ore Corp.
[{"type":"text","content":"\n \n \n \n OCEANIC ANNOUNCES REPLACEMENT OF PREVIOUSLY ISSUED SERIES B CONVERTIBLE DEBENTURE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISSEMINATION INTO\n \n THE UNITED STATES OF AMERICA\n \n OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n TSX Venture Exchange:  FEO\n \n \n \n ALL AMOUNTS ARE STATED IN CANADIAN DOLLARS, UNLESS OTHERWISE NOTED\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 29, 2023\n \n \n /CNW/ - Oceanic Iron Ore Corp. –\n \n November 29, 2023\n \n (TSXV: FEO) (\"\n \n Oceanic\n \n \", or the \"\n \n Company\n \n \") announces that it has entered into an agreement with the holder of the Company's previously issued Series B convertible debenture (the \"\n \n Series\n \n \n B\n \n \n Debenture\n \n \") to replace the existing Series B Debenture with a new debenture (the \"\n \n Replacement\n \n \n Debenture\n \n \") maturing on\n \n November 29, 2028\n \n .\n \n \n The Series B Debenture was convertible to units (each a \"\n \n Unit\n \n \") at the election of the holder at a price of\n \n $0.10\n \n per Unit. Upon conversion, each Unit consists of one (1) common share in the capital of the Company (each, a \"\n \n Common Share\n \n \") and one (1) common share purchase warrant of the Company (each, a \"\n \n Warrant\n \n \"), with each whole Warrant entitling the holder to purchase one Common Share (each, a \"\n \n Warrant Share\n \n \") at a price of\n \n $0.05\n \n per Warrant Share.\n \n \n As previously announced on\n \n November 23, 2023\n \n , the Replacement Debenture maintains substantially the same terms as the Series B Debenture, other than (i) the Warrant exercise price is\n \n $0.07\n \n and (ii) the maturity date is\n \n November 29, 2028\n \n .\n \n \n Should any portion of the Replacement Debenture be converted into Units prior to\n \n March 29, 2024\n \n , the Common Shares issued in relation thereto will be subject to a statutory hold until\n \n March 29, 2024\n \n .\n \n \n ...