TSX Venture Exchange : FEO
VANCOUVER, Jan. 5 /CNW/ - It is with pleasure that the Board of
Directors advises that Mr. Steven Dean has accepted the role of
Chairman and Chief Executive Officer of Oceanic Iron Ore Corp. (the
"Company") effective immediately. Mr. Dean has been a director of the
Company since its formation in late 2010.
Mr. Dean has an extensive background in senior and junior companies in
the minerals industry in Canada and Australia, including as President
of Teck Cominco Ltd. (now Teck Resources Limited). Teck is a major
diversified resource company and is the largest producer of
metallurgical coal in North America and the No.2 exporter of
metallurgical coal in the world to the globe's steel manufacturers.
Mr. Dean is a Fellow of the Institute of Chartered Accountants of
Australia, a Fellow of the Australian Institute of Mining and
Metallurgy and a Member of the Canadian Institute of Mining, Metallurgy
Mr. Dean said "The Company has one of the best early stage potential
resources of iron ore in North America, located in Quebec, the No.1
mining friendly jurisdiction in North America. I believe that the
Company's properties have the potential to establish one of the largest
world class tonnages of iron ore with close proximity to tidewater that
I have seen. These properties have been tied up in litigation for many
years and this is now resolved. We are now able to advance them for
potential development into the strong demand of today's global iron ore
export market. I am very pleased to be taking up an executive role at
such a critical and strategic time for the Company."
Mr. Paul Matysek will step down as Chairman but will remain a director.
Mr. Gregg Sedun, who has played an instrumental role in the acquisition
of the Ungava iron ore properties and has been a founding director of
the Company, will remain as President until such time as the Company
appoints an experienced senior iron ore executive as President and COO.
Mr. Sedun said "We are extremely pleased to have Steven Dean assume the
positions of Chairman and CEO. Mr. Dean has established himself in the
mining industry with an impeccable record and to have someone with his
background and experience take over senior management of our Company at
this stage is an outstanding acquisition and an excellent complement to
our significant iron ore properties and financing potential."
Finally, the Company announces the granting of a total of 3.5 million
incentive stock options at $0.83 per share for ten years to officers of
the Company subject to regulatory approval.
On behalf of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Oceanic Iron Ore Corp.
For further information:
Mr. Steven Dean- +1604 697 6202
Mr. Gregg Sedun- +1604 345 6642
OCEANIC IRON ORE CORP.
(formerly Pacific Harbour Capital Ltd.)
Ste. 3123 - 595 Burrard Street