Oceanus Closes Private Placement

2018-09-19 / @newswire

 

/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

HALIFAX, Sept. 19, 2018 /CNW/ - Oceanus Resources Corporation (TSXV:OCN and OTCQB:OCNSF) ("Oceanus" or the "Company") has closed a non-brokered private placement raising $750,000 through the issuance of 5,769,227 units at a price of $0.13 per unit.  Each unit consists of one common share and one-half warrant of the Company ("Unit"). Every two one-half common share purchase warrants of the Company entitles the subscriber to acquire one common share of the Company for $0.17 for a period of twenty-four months from the closing date.  The Units issued pursuant to this private placement are subject to a 4 month hold period that expires on January 19, 2019. 

Certain officers and directors of Oceanus subscribed for an aggregate of 504,615 Units.

The proceeds from the private placement will be used for Oceanus' El Tigre Property in Sonora, Mexico and for general working capital purposes. The private placement remains subject to final acceptance by the TSX Venture Exchange.

CAUTIONARY STATEMENT:

Neither 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.

SOURCE Oceanus Resources Corporation

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