Sino-Canada fund to increase stake in Oceanic Iron Ore to 19.9 pct
Vancouver-based mining company Oceanic Iron Ore Corp (TSX-V: FEO) has agreed to a refinancing of a $3 million debenture provided by the Sino-Canada Natural Resources Fund. As a result, the Sino-Canada fund's interest in Oceanic will increase to 19.9 percent as of November 23, 2015, and the fund will be entitled to representation on the company's board of directors. Oceanic is focused on the development of Ungava Bay iron properties in Nunavik, Québec. Managed by CapitalAsia, the Sino-Canada fund makes private equity investments in Canadian natural resource companies.
23 September 2015•4 mins read
