September 6, 2016 / 11:37 PM / a year ago

BRIEF-Oceanic announces increase in non-brokered private placement financing

Sept 6 (Reuters) - Oceanic Iron Ore Corp

* Oceanic announces increase in non-brokered private placement financing

* Co has increased its maximum proceeds in aggregate from $850,000 to an amount up to $1 million

* Private placement will now result in company issuing up to 5 million units at a price of $0.20 per unit

* Each unit will consist of one common share and one share purchase warrant

* Each whole warrant entitles holder to purchase one common share at a price of $0.30 per share for a period of 24 months after closing Source text for Eikon: Further company coverage:

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