Oceanus Resources Corporation
TSX : OCN

Oceanus Resources Corporation

June 21, 2016 10:46 ET

Oceanus Resources Corporation Completes C$5.75 Million Bought Deal Financing

HALIFAX, NOVA SCOTIA--(Marketwired - June 21, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Oceanus Resources Corporation ("Oceanus" or the "Company") (TSX:OCN) is pleased to announce that it has closed its previously announced bought deal offering of 25,000,000 units of the Company at a price of C$0.23 per unit (the "Offering") which includes 3,260,870 units issued pursuant to the exercise in full of an over-allotment option, for gross proceeds to the Company of C$5,750,000.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share at a price of C$0.39 during the period ending 24 months following the closing of the Offering.

The Offering was underwritten by Cantor Fitzgerald Canada Corporation and PI Financial Corp.

The net proceeds of the Offering will be used for the advancement and development of the El Tigre Project and for working capital and general corporate purposes.

The units have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered, sold or delivered, directly or indirectly, in the United States unless the securities are registered under the Securities Act and all applicable state securities laws or an exemption from the registration requirements of the Securities Act and applicable state securities laws are available. The information in this news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would require preparation of any prospectus or other offer documentation, or be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

CAUTIONARY STATEMENT:

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 financings, mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete financings, future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to the Ocampo mine, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Oceanus believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, 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 include risks and uncertainties related to capital markets, exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Oceanus with securities regulators.

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