Key Developments: Cabo Drilling Corp (CBE.V)
0.05CAD
16 May 2013
$-0.00 (-10.00%)
$0.05
$0.05
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85,000
69,809
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Latest Key Developments (Source: Significant Developments)
Cabo Drilling Corp Executes Joint Venture Agreement With Naicatchewenin Development Corporation
Cabo Drilling Corp and Naicatchewenin Development Corporation (NDC) announced the signing of a Joint Venture Agreement whereby the parties will work together to seek out drilling service contracts with exploration and mining companies throughout the Province of Ontario. NDC is a corporation set up by the Chief and Council of Naicatchewenin First Nation for the purpose of exploring economic opportunities that benefit the Naicatchewenin membership, together with other First Nations in Ontario. Under the terms of the Joint Venture Agreement, NDC will maintain an exclusive business relationship with Cabo Drilling for the purpose of tendering drilling service contracts in Ontario and will use its relationships with First Nations bands, and businesses in the exploration and mining sectors operating within Ontario aboriginal lands, to promote the services of the NDC and Cabo Drilling Joint Venture (the Joint Venture). NDC, together with other Ontario First Nations' members that they have relationships with, will assist in the performance of drilling services contracts that have been entered into by the Joint Venture for mineral exploration drilling, development drilling and mine drilling. NDC and Cabo will carry out their efforts to provide training and employment opportunities for the Naicatchewenin and other Ontario First Nations' members. Full Article
Cabo Drilling Corp Issues FY 2013 Revenue Guidance
Cabo Drilling Corp announced that for fiscal 2013, it expects gross revenues of approximately $50-56 million. Full Article
Cabo Drilling Corp Signs Business Cooperation Agreement With Geoplano SA
Cabo Drilling Corp announced that Geoplano SA (Geoplano) and Cabo Drilling have signed a Business Cooperation Agreement to support each other's efforts in offering expanded geological services to mineral exploration and mining companies active in the Iberian Peninsula and select countries of North Africa. Full Article
Cabo Drilling Corp Signs Business Cooperation Agreement With Jantar Grupa d.o.o.
Cabo Drilling Corp announced that Jantar Grupa d.o.o. and Cabo Drilling have signed a Business Cooperation Agreement to exclusively market their services to their respective customers and other companies and consultants in the mining and mineral exploration industry in Serbia and Bosnia-Herzegovina. Full Article
Cabo Drilling Corp Signs Alliance Agreement With Dawn-Works Inc.; Private Placement
Cabo Drilling Corp and Dawn-Works Inc. announced the signing of an Alliance Agreement whereby the parties will work together to seek out drilling service contracts with exploration and mining companies within the Labrador region. As part of the Alliance Agreement, Dawn - Works Inc. has agreed that Cabo Drilling will be the exclusive supplier of drilling services to mining companies with which Dawn - Works Inc. has bidding opportunities under any and all Aboriginal Impact and Benefit Agreement projects or other agreements set into law for First Nations corporations. Dawn-Works Inc. will also provide insight into availability of local resources, establish guidance for working on Land Claim areas, assist in negotiating with national, provincial and local authorities, identify opportunities for First Nations participation, and establish overall marketing, promotional and public relation activities on behalf of the alliance within the Territory. The Company also announced that it has entered into agreements to satisfy outstanding indebtedness of approximately $108,000 in trades payable and loans by the issuance of 1,200,000 common shares at a deemed price of $0.09 per share. The indebtedness includes $40,500 debt owed to an insider of the Company. The issuance of the shares is subject to the approval of the TSX Venture Exchange. When approved, the issued shares will be subject to a hold period and will not be freely tradable for four months and one day from the date of issuance. Full Article
Cabo Drilling Corp's Cabo Drilling (Pacific) Corp Secures Labour Contract At Canadian Zinc's Prairie Creek Minesite
Cabo Drilling Corp announced that Cabo Drilling (Pacific) Corp. has been awarded a labour contract for shallow and deep hole drilling at Canadian Zinc Corporation's Prairie Creek Minesite located in the Northwest Territories, Canada. Under the terms of the contract, Cabo Drilling will provide drill crews and supervision for 2 skid mounted diamond drill rigs on Canadian Zinc's fly-in Prairie Creek property. Drilling on this project includes specialty drilling, with depths of up to 1,900 m and multiple wedges. Cabo will work closely with Canadian Zinc to provide consultation and technical assistance, with respect to drilling techniques and procedures, drilling operations management, drill equipment requirements, safety and environmental procedures and policies, down hole products and consumables and drilling additives. Full Article
Cabo Drilling Corp.'s Cabo Drilling (Ontario) Corp. Receives Contracts From Century Iron Mines Corporation
Cabo Drilling Corp. announced that Cabo Drilling (Ontario) Corp. has been awarded a drilling contract and a labour contract by Century Iron Mines Corporation (Century Iron). Under the terms of the contracts Cabo Drilling will provide and operate an Acker reverse circulation drill as well as provide drill crews and supervision for two of Century Iron's drills on their Schefferville and Joyce Lake projects near Schefferville in the provinces of Quebec and Labrador. Full Article
Cabo Drilling Corp. Announces New $3 Million Equipment Loan Facility With GE Capital, Canada
Cabo Drilling Corp. announced that the Company has entered into a new $3 million equipment loan facility with GE Capital, Canada. The loan proceeds will be used to pay out approximately $1 million remaining under lending facilities with HSBC Canada, and to provide approximately $2 million of working capital. At this time, the Company is working through the process of establishing new relationships with banks to replace HSBC Canada. Full Article
Cabo Drilling Corp. Signs Alliance Agreement With Torngat Services Limited
Cabo Drilling Corp. and Torngat Services Limited announced the signing of an Alliance Agreement whereby the parties will work together to seek out contract drilling opportunities with exploration and mining companies within the Labrador region. Through its current agreements and relationships, Torngat has agreed to work with Cabo as an exclusive supplier of drilling services to Inuit Impact Benefit Agreement projects. As part of the Alliance Agreement the Company will manage the alliance projects and will work with Torngat to provide training and employment opportunities to qualified Nunatsiavut Beneficiaries. The objective of the Alliance Agreement partners is to provide contract drilling services in the Nunatsiavut Territory and to advance Nunatsiavut Beneficiaries to increasingly responsible positions, within the drilling services sector, in accordance with their qualifications, training and capabilities. Working within the Alliance Agreement will enable Torngat to develop capacity and skill sets within the exploration and mining sectors and will enable Cabo to more visibly market its drilling services within the Nunatsiavut territory. Furthermore, the alliance will provide Torngat and Cabo with revenue generating and growth opportunities. Full Article
Cabo Drilling Corp. Signs Alliance Agreement With NunatuKavut Community Council's Nunacor
Cabo Drilling Corp. announced the signing of an Alliance Agreement whereby the parties will work together to seek out opportunities with exploration and mining companies within the Labrador region. Nunacor is the development corporation subsidiary of NunatuKavut Community Council (NCC). The Alliance Agreement will facilitate the provision of exclusive drilling contract services by Cabo to the mining companies with which Nunacor and NCC have cooperation agreements, and with customers and business partners of Nunacor and NCC within the NunatuKavut territory. The NunatuKavut Territory is the territory of the southern Inuit people of Labrador Canada and is located in south central Labrador, as far west as the Labrador Trough. Working within an alliance with Cabo will enable Nunacor to develop capacity and skill sets within the exploration and mining sectors and will enable Cabo to more visibly market its drilling services within the NunatuKavut territory. Full Article
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