Northwire Canada EditionFriday, November 13, 2026
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Financings

OCEANIC ANNOUNCES SETTLEMENT OF DEBENTURE INTEREST FOR COMMON SHARES

By The Northwire Desk — AI Analysis Dec 31, 2025 · 19:39 FEO · 0.65 Oceanic Iron Ore Corp.
FEO · Price

Executive Summary

  • Oceanic Iron Ore Corp. settled $84,515 of accrued interest on its various convertible debentures by issuing 130,023 common shares at $0.65 per share (the closing price on Dec 31 2025).
  • The settlement involved Replacement Series A & B Convertible Debentures, Series C Convertible Debentures, and Series D Convertible Debentures.
  • No cash outlay was required; the interest obligation was satisfied through equity issuance.

Key Details

  • Interest Amount Settled: $84,515 (CAD).
  • Shares Issued: 130,023 common shares.
  • Issue Price: $0.65 per share – equal to the closing market price on Dec 31 2025.
  • Conversion Mechanism: Accrued interest was converted into equity rather than paid in cash.
  • Debenture Series Affected: Replacement Series A Convertible Debentures, Replacement Series B Convertible Debentures, Series C Convertible Debentures, Series D Convertible Debentures.
  • Effect on Capital Structure: Increases common share count; reduces outstanding interest liability on the referenced debentures.

Notable Quotes

  • “Steven Dean,” Chairman – “On behalf of the Board of Directors.” (No additional commentary provided.)
Read the original news release →

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