Oceanus Resources Corporation (“Oceanus” or the “Company”) (TSX VENTURE:OCN) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation and PI Financial Corporation as co-lead underwriters, pursuant to which they have agreed to purchase, on a bought deal basis, 21,739,130 units of the Company (the “Units”) at a price of $0.23 per Unit, for gross proceeds to the Company of approximately $5,000,000 (the “Offering”).

The Company will also grant to the Underwriters an over-allotment option (the “Over-Allotment Option”) to increase the size of the Offering by up to an additional 15% of the number of Units sold under the Offering at a price of $0.23 per Unit, such option being exercisable in whole or in part at any time prior to 30 days after the closing of the Offering.