Discovery Minerals Ltd Announces Record

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Aug 14, 2013 at 11:10 AM

Discovery Minerals Ltd Announces Record Date of September 13, 2013 for Issuing Anti-Dilutive Convertible Preferred Securities...
Date :	08/14/2013 @ 7:00AM
Source :	OTC Markets
Stock :	Discovery Minerals Ltd. (PC) (DSCR)
Quote :	0.0005 0.0 (0.00%) @ 10:43AM

Discovery Minerals Ltd Announces Record Date of September 13, 2013 for Issuing Anti-Dilutive Convertible Preferred Securities...

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Discovery Minerals Ltd Announces
Record Date of September 13, 2013 for Issuing Anti-Dilutive Convertible
Preferred Securities to Confirmed Shareholders in Street Name.

Aug 13, 2013

OTC Disclosure & News Service

Reno, NV -

ACCESSWIRE)
8/13/2013 10:00:00 AM - Discovery Minerals Ltd. (OTC PINK: DSCR)
is pleased to announce that it will be issuing Anti-Dilutive Convertible
Preferred Shares to confirmed shareholders in street name on or before
September 13, 2013. These are hybrid securities that are
designed to protect investors and investments from dilution, while ensuring
that the Company does not take on any further debt on its balance sheet . These
securities that are being issued to our common shareholders will form the
nucleus of a registration statement that we will be filing with the SEC. We
will commence with the issuance of these securities, by having the common
shareholders contact us, no later than September 13, 2013 so that our
designate corporate secretary will know where to make delivery of the aforementioned
securities for each of the stockholders. We will ask that our current common
stockholders provide detail proof(s) of the amount of shares held on deposits
and their cash value on deposits with their broker
dealer, (Email response to: harvardtrust@execs.com ) so
that we can issue the appropriate amount of convertible preferred stock as a
function of the equity invested by each stockholder. There will be no
further issuance resolutions by DSCR's management and use of rule 144 by
stockholders, as a provision to convert debt that is not already aged, until
DSCR completes a registration statement with the SEC. These securities will be
priced at $2.50 per share, will be anti-dilutive, convert
at par value of DSCR and will be dividend capable. Additionally, once the
company has completed its audit, which Malone Bailey LLP has commenced, these
securities will form the reconstituted Issued Capital that will be registered
by DSCR to create new freely traded securities for its shareholders. Discovery
Minerals Ltd. will host a conference call on Tuesday, September 3, 2013 at 2:00
p.m. Pacific Time / 5: 00 p.m. Eastern Time. The live call will
include a moderated Q&A, after the prepared remarks. The dial-in telephone
number for the live audio is as follows: North America, 1.661.673.8605, Access
Code 203745#

Russell
Smith, CEO of Discovery Minerals states, "We are extremely pleased to have
the ability to protect our investors by issuing these preferred securities. The
ability to register this stock ensures that all of our investors have some
insulation from market forces and conditions. One preferred share will convert
into 100,000 common at $2.50 per share, then the security is
registered with the SEC. The security will be quoted at $2.50 per
share to reflect the equity that we intend to move into the company through
forward acquisitions of profitable enterprises. These opportunities will be
audited to US GAAP standards and will allow us to consolidate condensed
financial statements that will show the value that we are building for the
stockholders. This opportunity, however, will only be available to investors
who currently hold verified, recorded positions with DSCR as of September 13,
2013. Additionally, we will be assisting all shareholders in converting the
preferred shares to common when we do register those securities with the SEC.

About
Discovery Minerals Ltd.:

Discovery
Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC Pinksheets: DSCR) is a
production stage company formed to acquire and develop natural resource
properties. Activities include gold, precious metals and 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.

The above
news release has been provided by the above company via the OTC Disclosure and
News Service. Issuers of news releases and not OTC Markets Group Inc. are
solely responsible for the accuracy of such news releases.

Discovery Minerals Ltd (DSCR) Stock Research Links

DSCR Board Company Profile Buy Rating Time & Sales News Filings Financials

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