News
http://www.otcmarkets.com/stock/DSCR/news/Dis...84&b=y
October 7th, 2015
OTC Disclosure & News Service
October 7th, 2015--- Marina del Rey CA. Discovery Minerals Ltd. (OTC PINK: DSCR) (PINKSHEETS: DSCR) (Discovery)
Discovery would like to afford shareholders the opportunity to catch up on recent events concerning the Company’s progress and ongoing efforts to diligently build value and maintain shareholder confidence.
The recent dilution has ultimately and positively resulted in the removal of the vast majority of the Company’s obligations to debt holders. The Company is aware of shareholder speculation regarding the possibility of a reverse split. The Company maintains its position that a reverse split is not beneficial to its existing and future shareholders at the moment. The Company is in the process of completing and intends to post a quarterly financial statement later this week. Additionally this will bring the Company back to current OTC Market status.
The hemp channel has progressed somewhat slower than the Company had projected, however, its participation in the IB-8 joint venture is continuing as anticipated. The Company remains active in the mineral and mining sectors, reviewing and prospecting acquisitions, but is proceeding with a more rigorous examination process of projects with a view to secure “ close to production “ properties.
Through his commitment to increase shareholder value, and leveraging his extensive contacts in business, CEO Russell Smith has successfully identified a new acquisition target. “We are currently performing the necessary due diligence to complete a formal agreement,” says Smith. This target is in a new business channel not currently pursued by the Company, however we anticipate that it can contribute considerably to future profitability. Further details will be forthcoming once a binding agreement is in place.
About Discovery Minerals LTD.
Discovery Minerals Ltd., (OTC PINKSHEETS: DSCR.PK) is an acquisition and development company that targets natural resource properties through its subsidiaries. These properties fall within two primary channels, precious metals/mining and industrial hemp. Discovery subsidiaries engage in activities that include the cultivation, product development, and distribution of industrial hemp; Gold, silver and precious metals. In addition, the Company is pursuing clean tech and alternative energy investments to be integrated into these business channels.
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.
Contact Person: Russell Smith At: info@discoveryholdingscorp.com 1-310-961-4654
http://www.otcmarkets.com/stock/DSCR/news/Dis...84&b=y
October 7th, 2015
OTC Disclosure & News Service
October 7th, 2015--- Marina del Rey CA. Discovery Minerals Ltd. (OTC PINK: DSCR) (PINKSHEETS: DSCR) (Discovery)
Discovery would like to afford shareholders the opportunity to catch up on recent events concerning the Company’s progress and ongoing efforts to diligently build value and maintain shareholder confidence.
The recent dilution has ultimately and positively resulted in the removal of the vast majority of the Company’s obligations to debt holders. The Company is aware of shareholder speculation regarding the possibility of a reverse split. The Company maintains its position that a reverse split is not beneficial to its existing and future shareholders at the moment. The Company is in the process of completing and intends to post a quarterly financial statement later this week. Additionally this will bring the Company back to current OTC Market status.
The hemp channel has progressed somewhat slower than the Company had projected, however, its participation in the IB-8 joint venture is continuing as anticipated. The Company remains active in the mineral and mining sectors, reviewing and prospecting acquisitions, but is proceeding with a more rigorous examination process of projects with a view to secure “ close to production “ properties.
Through his commitment to increase shareholder value, and leveraging his extensive contacts in business, CEO Russell Smith has successfully identified a new acquisition target. “We are currently performing the necessary due diligence to complete a formal agreement,” says Smith. This target is in a new business channel not currently pursued by the Company, however we anticipate that it can contribute considerably to future profitability. Further details will be forthcoming once a binding agreement is in place.
About Discovery Minerals LTD.
Discovery Minerals Ltd., (OTC PINKSHEETS: DSCR.PK) is an acquisition and development company that targets natural resource properties through its subsidiaries. These properties fall within two primary channels, precious metals/mining and industrial hemp. Discovery subsidiaries engage in activities that include the cultivation, product development, and distribution of industrial hemp; Gold, silver and precious metals. In addition, the Company is pursuing clean tech and alternative energy investments to be integrated into these business channels.
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.
Contact Person: Russell Smith At: info@discoveryholdingscorp.com 1-310-961-4654
