Tamerlane Ventures Inc. and its subsidiaries (“Tamerlane”) are engaged in the acquisition, exploration and development of base metal projects in Canada and Peru. Tamerlane’s flagship property is Pine Point, a project located near Hay River in the South Slave Lake area of the Northwest Territories. Tamerlane’s other significant asset is the Los Pinos mining concession in Lima, Peru.
Tamerlane commenced restructuring proceedings under the Companies’ Creditors Arrangement Act and we were appointed as its CCAA Monitor. Tamerlane commenced a sale and investment solicitation process for its business and assets in the CCAA proceeding. The CCAA proceedings transitioned into receivership proceedings and we were appointed as Receiver. The Receiver sold Tamerlane’s interest in the Pine Point property and developed a process to monetize the Los Pinos mining concessions, which are subject to ownership disputes involving complex litigation in Peru.