Iron Tank Resources Corp is among the mineral exploration companies that made their recent entry to the marijuana industry. This Vancouver BC company is still focused on acquiring and exploring mineral properties, especially gold and copper ores, in Canada. However, in mid-2014, it announced its initial activities in the medical marijuana sector.

The company was incorporated in 2007 and formerly operated as Mountain Gold Resources, Ltd, a wholly owned subsidiary of Great Bear Resources, Ltd. Following several changes, the company became Iron Tank Resources Corp in 2011. In 2012, it then started to trade on the TSX Venture Exchange.

Iron Tank’s current symbol on the TSX is TNK. The company’s market cap is estimated at CAD 1.47 M.

Some of the most recent activities of Iron Tank Resources are in the medical marijuana sector. In June 2014, it announced that it has begun its own evaluation of its application for a medical marijuana license and facility. Though the company clarified that this action does not guarantee that it will actually obtain a license, it has secured an area from the BC Agricultural Land Reserve. It also has an option to purchase this land.

Sustaining its operations in the mining industry, Iron Tank Resources still explores properties in Canada. Its major endeavor is with the Birch Property, of which it holds interest. The property covers an area of approximately 1,700 hectares and is located in the Cariboo Mining Division in central British Columbia. It has been found to hold potential for significant deposits of copper, gold, palladium, and platinum.

The management team at Iron Tank Resources Corp is led by CEO David Michael Antony and CFO Charidy Lazorko. Its board of directors meanwhile includes Darren Kaulius, who is the lead person for the company’s marijuana application evaluation.


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Teekay Corporation 2019 Annual General Meeting Presentation

Teekay Corporation (Teekay) (TK) presented at its 2019 Annual General Meeting on Monday, June 10, 2019, which included details on its two publicly-traded Daughter entities, Teekay LNG Partners L.P. (Teekay LNG) (TGP) and Teekay Tankers Ltd. (Teekay Tankers) (TNK). It is my pleasure to report to you at this Annual General Meeting as Teekay’s President and Chief Executive Officer. Over the past three years, we have completed several important initiatives with the objective of de-risking, delevering and preserving value and optionality during what was a very challenging time for the energy and capital markets, while also executing on a very large gas project orderbook that is delivering on-time or early and on-budget.  With the recent successful refinancing of Teekay’s 2020 bond, the near completion of all our LNG growth projects, and the anticipated improvement in tanker shipping market fundamentals, we believe Teekay has reached a positive turning point and the Teekay Group is in the best position it has been in for quite a few years.

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Teekay Tankers Announces Changes to Board of Directors

Effective May 29, 2019, Mr. Sai W. Chu will be joining the Board to fill the vacancy created by the resignation of Mr. Richard Paterson.  Mr. Richard Paterson, an independent director of Teekay Tankers, has stepped down from the Board to accept an invitation to join the board of Teekay GP L.L.C, the general partner of Teekay LNG Partners L.P.  Mr. Chu, who is an independent director, will also serve as the Chair of the Company’s Audit Committee and as a member of the Board’s Conflicts Committee and Governance Committee. “Sai brings a wealth of financial and shipping expertise to Teekay Tankers,” commented Arthur Bensler, Chair of the Board.  “We are very pleased that he has agreed to join our Board, and we look forward to his contribution as we continue to execute on our strategy in the years to come.”  Mr. Bensler continued, “Richard has made an invaluable contribution during his tenure.

Teekay Corporation Announces Expiration and Final Results of Cash Tender Offer for Any and All of Its 8.5% Senior Notes Due in 2020

Teekay Corporation (Teekay or the Company) (TK) announced today the expiration and final tender results of its previously announced cash tender offer to purchase any and all of its outstanding $497.7 million in aggregate principal amount of 8.5% senior notes due 2020 (the 2020 Notes and such tender offer, the Offer). The Offer expired at 11:59 p.m., New York City time, on May 21, 2019 (the Expiration Time). The Company previously accepted for purchase approximately $458.0 million in aggregate principal amount of 2020 Notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on May 7, 2019 (the Early Tender and Consent Date), for cash consideration of $1,032.50 per $1,000 in principal amount of 2020 Notes, plus accrued and unpaid interest, and paid for such 2020 Notes on May 13, 2019.