trending Market Intelligence /marketintelligence/en/news-insights/trending/ibjkatnxzm-icwouwrorq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Darnley Bay completes acquisition of Tamerlane's Pine Point zinc property

OTT Winners, Losers In The Age Of COVID-19

After Growing In 2019, Latam FTTP Market Might Slowdown In 2020 Due To COVID-19

Another Outcome Of COVID-19: Olympics Postponed

COVID-19 Crisis: Legacy TV Universe Strategic Analysis


Darnley Bay completes acquisition of Tamerlane's Pine Point zinc property

Following the raising of C$7.7 million from a previously reported private placement, Darnley Bay Resources Ltd. completed the acquisition of Tamerlane Ventures Inc.'s Pine Point zinc property in Canada's Northwest Territories.

The company increased the placement from C$7.5 million to C$10 million earlier in December.

Darnley Bay closed the first tranche of the offering, issuing 25 million units at 20 cents apiece for gross proceeds of C$5 million and 10,635,400 flow-through common shares at 25 cents apiece for C$2.7 million.

Each unit consists of 1 common Darnley Bay share and 0.5 of a share purchase warrant, with each whole warrant exercisable at 30 cents per share for a 24-month period from closing.

The company will use the remaining funds to complete a preliminary economic analysis on the Pine Point project, for exploration and drilling, and for working capital purposes, according to its Dec. 20 news release.

Darnley Bay signed a binding letter of intent in October to acquire the Pine Point property in a cash-and-stock deal.

Under the deal, the company will pay C$3.0 million and issue 26,250,000 shares to KSV Kofman Inc., acting as the court-appointed receiver of Tamerlane, to acquire the project, subject to certain conditions.

The past-producing Pine Point property comprises 42 known zinc-lead deposits over a strike length of approximately 68 kilometers.