RENO, NV--(Marketwired - Mar 20, 2014) - Discovery Minerals Ltd. (OTC Pink: DSCR) (PINKSHEETS: DSCR) is pleased to update shareholders regarding its land acquisition targets. The Company is currently focusing on two potential candidates in the Provinces of Ontario and Alberta, Canada. The determination on whether to acquire the land outright or form a joint venture with the growers is continuing.
Discovery has adopted a strategy focused on accumulating land for hemp crop cultivation and / or partnering with an existing grower to maximize crop production and overall economics. As the cultivation of Hemp is currently well established, though still under serviced, countries such as Canada afford the Company an opportunity to grow within a well defined market that is both regulated and commercially viable. "We believe that the Hemp Industry offers one of the last true abilities to vertically integrate a business plan to facilitate a Seed to Sale approach without a vast amount of capital expenditure," stated Russell Smith, CEO of Discovery.
Additionally, management would like to update its shareholders regarding the progress of its impending audit and initiative to become a fully reporting issuer on the OTCQB. The company would like to announce that it has engaged GBH CPAs as its independent audit firm and plan on commencing our two year look back audit within the next week. Mr. Russell Smith, CEO added, "Once we have established a firm timeline for the completion of the audit we will have our registration statement completed to coincide with the audit to ensure we can file with the United States Securities and Exchange Commission in a timely manner."
About Discovery Minerals Ltd.
Discovery Minerals Ltd. (OTC Pink: DSCR) (PINKSHEETS: DSCR) is a production stage company formed to acquire and develop natural resource properties. Activities include gold, precious metals and petroleum minerals, including rare earth minerals production and sales. The Company initiated a new program to evaluate undervalued assets, including clean tech and alternative energy investments, for potential addition to its portfolio.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
