January 30, 2018 / 1:17 PM / 5 months ago

BRIEF-Oceanic Announces Memorandum Of Understanding With Sinosteel Mecc

Jan 30 (Reuters) - Oceanic Iron Ore Corp:

* OCEANIC ANNOUNCES MEMORANDUM OF UNDERSTANDING WITH SINOSTEEL MECC

* OCEANIC IRON ORE CORP -MOU FORMALIZES UNDERSTANDING, INTENTIONS OF PARTIES IN RESPECT OF COOPERATION FOCUSED ON CO’S HOPES ADVANCE PROJECT DEVELOPMENT​

* ‍MOU IS A NON-BINDING AGREEMENT THAT BOTH CO AND SINOSTEEL MECC INTEND TO EVOLVE TO BINDING PROJECT FINANCING ARRANGEMENTS

* ‍SINOSTEEL MECC INTENDS TO ASSIST IN ARRANGEMENT OF A FUTURE EQUITY INVESTMENT, OFF-TAKE AND PROJECT FINANCING​ Source text for Eikon: Further company coverage:

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