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OCEANIC ANNOUNCES SETTLEMENT OF ADVANCE ROYALTY PAYMENTS
OCEANIC ANNOUNCES SETTLEMENT OF ADVANCE ROYALTY PAYMENTS Canada NewsWire TSX Ve...
About this update from Oceanic Iron Ore Corp.
[{"type":"text","content":"\n \n \n \n OCEANIC ANNOUNCES SETTLEMENT OF ADVANCE ROYALTY PAYMENTS\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 TSX Venture Exchange:  FEO\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 \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 Dec. 12, 2023\n \n \n /CNW/ - Oceanic Iron Ore Corp. –\n \n December 12, 2023\n \n (TSXV: FEO) (\"\n \n Oceanic\n \n \", or the \"\n \n Company\n \n \") announces the Company has closed on the settlement of the Advanced Royalty Payments previously announced on\n \n November 23, 2023\n \n . The Company has issued 1,153,846 common shares at a price of\n \n $0.065\n \n per common share to SPG Royalties Inc. (\"\n \n SPG\n \n \"), while also providing SPG with a cash payment of\n \n $25,000\n \n . Contemporaneously, the Company issued a cash payment of\n \n $50,000\n \n to 154619 Canada Inc., who have agreed to defer an additional\n \n $50,000\n \n balance remaining until\n \n November 30, 2024\n \n .\n \n \n The common shares issued to SPG are subject to a statutory four-month hold period.\n \n \n OCEANIC IRON ORE CORP. (\n \n www.oceanicironore.com\n \n )\n \n On behalf of the Board of Directors\n \n \n \"\n \n \n Steven Dean\n \n \n \"\n \n Chairman\n \n +604 566-9080\n \n \n \n This news release includes certain \"Forward-Looking Statements\" as that term is used in applicable securities law. All statements included herein, other than statements of historical fact, including, without limitation, statements regarding the statutory hold period and the deferred payment to 154619 Canada Inc, are forward-looking statements that involve various risks and uncertainties.  In certain cases, forward-looking statements can be identified by the use of words such as \"plans\", \"intends\", \"expects\" or \"does not expect\", \"scheduled\", \"believes\", or variations of such words...