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Darien Resource Development closes IPO

Darien Resource Development Corp. on Jan. 25 completed an initial public offering of 5 million shares and listed on the TSX Venture Exchange, the company said in a same-day release.

The company's shares were priced at 10 cents apiece for C$500,000 in total proceeds.

Darien's shares are expected to resume trading on the bourse on Jan. 29 under the symbol DRR.

The company engages in the acquisition and exploration of gold, silver, copper and zinc properties in Canada. It holds an option to acquire the Exxeter property in Quebec.

Darien intends to use the proceeds to fund its exploration program on Exxeter and for general working capital.