Darnley Bay Resources closes US$5 million private placement financing

On December 29, 2009, Darnley Bay Resources Limited (TSX VENTURE: DBL) closed its previously announced private placement financing. The fully-subscribed private placement, conducted by Haywood Securities Inc. on a best efforts agency basis, raised gross proceeds of $5,000,000.10 through the sale of 24,443,368 units in the capital of the Corporation at $0.15 per Unit, and 8,889,966 flow-through shares for purposes of the Income Tax Act (Canada) at $0.15 per Flow-Through Share. Several days prior to closing the private placement, Darnley Bay finalized a key agreement with the Inuvialuit Regional Corporation to facilitate their exploration program. Fasken Martineau acted as counsel to Haywood Securities, with a team that included Georges Dubé, Brad Freelan, Michael Shour (corporate/securities), Bill Bies (tax), and Katey Grist (aboriginal).