Darnley Bay Resources closes private placement financing for US$4.25 million

On August 25, 2010, 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 $4,250,000 through the sale of 10,625,000 flow-through units of the Company at a price of $0.40 per flow-through unit. Fasken Martineau acted as counsel to Haywood Securities, with a team that included Georges Dubé and Michael Shour (corporate/securities), and Bill Bies (tax).