|By Marketwired .||
|June 11, 2014 08:36 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/11/14 -- Oceanic Iron Ore Corp. (TSX VENTURE: FEO)(OTCQX: FEOVF) ("Oceanic", or the "Company") announces that it intends to consolidate its outstanding share capital on the basis of 10 pre-consolidation shares for 1 post-consolidation share.
The consolidation is expected to provide the Company with a more compact and conventional capital structure in the current market.
The Company currently has 196,618,231 common shares issued and outstanding, and after the consolidation, the Company will have approximately 19,661,823 common shares issued and outstanding. The Company does not expect to change its name in conjunction with the consolidation.
The completion of the consolidation remains subject to TSX Venture Exchange approval.
OCEANIC IRON ORE CORP. (www.oceanicironore.com)
On behalf of the Board of Directors
Steven Dean, Chairman and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Oceanic Iron Ore Corp.
Chairman and Chief Executive Officer
+1 604 566 9080