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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Latest Financial News for TNK

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On May 23, Teekay Corporation (NYSE: TK), the parent holding company, reported a net loss of $84.3 million in the first quarter of 2019, compared to a loss of $20.6 million in the same period the year before. Teekay Tankers (NYSE: TNK) posted net income of $12.4 million in the latest quarter, compared to a loss of $19.2 million in the first quarter of 2018. Teekay LNG (NYSE: TGP) reported net income in the most recent period of $21.6 million, up from a loss of $6.9 million in the first quarter of 2018.

Teekay Tankers Ltd. to Host Earnings Call

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