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Oceanic Announces Settlement of Debenture Interest For Common Shares

Press Release

July 4, 2023

Vancouver, BC – Oceanic Iron Ore Corp. – July 4, 2023 (TSXV: FEO) (“Oceanic”, or the “Company”) is pleased to announce that it has elected to settle an aggregate of $92,970 in accrued interest due under the Company’s previously issued Replacement Series A Convertible Debentures, Series B Convertible Debenture, Series C Convertible Debentures and Series D Convertible Debentures on June 30, 2023 (the
“Settlement Date”) by issuing 1,328,141 common shares in the capital of the Company (each, a “Common Share”) at a price equal to $0.07 per Common Share.

On behalf of the Board of Directors

“Steven Dean”
Executive Chairman

For further information: Gerrie van der Westhuizen, CFO & Corporate Secretary, +1 (604) 566-9080



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