HALIFAX, NOVA SCOTIA / ACCESSWIRE / July 25, 2014 / Oceanus Resources Corporation (TSXV:OCN) ("Oceanus" or the "Company"), is pleased to announce the closing of the previously announced non-brokered private placement and that it has issued 8,000,000 common shares at a price of $0.35 per share for aggregate proceeds of $2,800,000 (the "Private Placement").
Net proceeds from the funds raised will be used for exploration of Oceanus' La Lajita high grade gold property located in Durango, Mexico and for general working capital purposes. The Private Placement remains subject to compliance with the requirements of the TSX Venture Exchange.
In connection with the closing, the Company paid cash finder's fees of $15,002 and issued 42,861 finder's warrants to finders acting on behalf of the Company in connection with the Private Placement. Each finder's warrant is exercisable into one common share of the Company at $0.40 per share, for a period of 12 months from the closing date.
All common shares issued in connection with the Private Placement, including the finder's warrants are subject to a four-month hold period that expires on November 26, 2014.
Officers and directors of the Company subscribed for an aggregate of 760,435 shares.
For further information, please contact:
Chief Executive Officer, Oceanus Resources Corporation
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.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oceanus's expectations are exploration risks detailed herein and from time to time in the filings made by Oceanus with securities regulators.
(Not for distribution to US wire services or for dissemination in the United States of America)
SOURCE: Oceanus Resources Corporation