Double Crown Resources Receives 1st Purchase Order for High Grade Barite
February 25 2014 - 8:30AM
Business Wire
Additional Orders for Long-Term Oilfield Service
Projects Expected
Feb. 25, 2014 -- Double Crown Resources, Inc. (OTCQB:DDCC), a
fully reporting company, (hereinafter, "Double Crown"), today
announces its first purchase order has been received for
supply of the strategic mineral barite, a key commodity needed for
hydraulic fracturing in oilfield drilling operations. Full
payment for this order is due to Double Crown's
account within 30 days which will mark the
company's first revenue generation from its primary business
plan of oilfield supply and services. This
initial order represents the first of many being planned
in a long-term arrangement with the customer. A multi-year
sales agreement is being prepared for continual shipments of
the barite product to support the customer's active and
ongoing oilfield drilling program. Purchase
orders for barite and other drilling products
with additional customers worldwide are also anticipated
to follow in the near term. Double Crown will release dollar value
figures and further information for its orders
in upcoming announcements and its regular SEC filings.
The barite mineral being purchased in this first order is
a high grade product which is being made available
exclusively to Double Crown through the company's
Master Purchase Agreement (MPA) with the source mine. No
other barite supplier has access to this specific high grade
ore which exceeds current industry standards. The product for
this initial order, as well as planned follow-up orders, will be
handled and delivered via Double Crown's strategic alliance
with Logistica US, a subsidiary of Logistica Integral en
Transportacion S.A de C.V. (http://logisticaintermodal.com).
Logistica US is currently arranging for our shipment
to arrive at their established port destination in Corpus
Christi, Texas within the next 7 days. From there the product
will be sent directly to the customer's own processing center
and prepared for immediate use in
downhole testing at an active production drilling site.
Once the product proving stages are successfully completed it is
expected that the customer will move forward on execution of
Double Crown's Full Corporate Offer (FCO) with them on a
planned multi-year barite supply agreement.
As soon as possible in the future, commodity product
loads will be routed through Double Crown's recently
leased processing plant & bulk terminal in New
Orleans, Louisiana. It is also planned that these shipments
will employ the company's new, single transfer Transprop
AGG container system. The patent pending Transprop AGG
is designed to significantly improve overall efficiency,
economics and environmental protection in large scale
aggregate material transport and delivery. Double Crown
management believes the Transprop AGG system will become a game
changing development in the commodity shipping industry when fully
deployed to the market.
President Allen E. Lopez stated, "This is a milestone point for
Double Crown Resources. The timing could not be better for our
commercial launch into the pivotally important oilfield services
energy sector with all of the new
commitment to United States and western energy
independence we see today. The accomplishments our team
has put in place to date have made us ready and able
to fulfill our primary mission of service and
strategic commodity supply for customers in the
petroleum production industry at every level. I feel it is
appropriate now to express appreciation to everyone who has
contributed to our success. Let me thank our Chairman and CEO,
Jerold S. Drew whose leadership and tireless efforts to
build up the company have given us the ideal
platform we now have going to work for our customers.
Great thanks also go to our Chief Operating Officer, Antonio
B. Castillo. We would not be where we are today without his
key contributions. For many months Antonio has been
involved in extensive research, negotiations and international
travel to make procurements and preparations for
our orders. We are now entering a time that should
greatly benefit everyone, including all of our DDCC investors.
Thanks must additionally go to our private placement
investors who offered their vital financial support at the times
when it was needed most. At Double Crown Resources we are bullish
on the future and delivering on our company slogan; We drive the
minerals that drive the market."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration
and development company holding a 100% interest in the Bateman gold
& nickel prospect near Thunder Bay, Ontario, Canada. In
addition, Double Crown is targeting new properties as well as
oilfield supply & service projects that have the potential
for near-term positive cash flow. The company is presently
reviewing a number of new natural resource properties that are near
to, or in production, located in North, South and Latin America.
Multiple oilfield service projects are currently under active
development. Double Crown Resources, Inc., originally founded in
2006, is based in Henderson, NV.
Neither this press release nor any related calls or discussions
constitutes an offer to sell, or the solicitation of an offer to
buy, any securities.
Forward-Looking Statements
You should not place undue reliance on forward-looking
statements in this press release. This press release contains
forward-looking statements that involve risks and uncertainties.
Words such as "will," "anticipates," "believes," "plans," "goal,"
"expects," "future," "intends," and similar expressions are used to
identify these forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as
described in this press release. For further information about
Double Crown Resources, Inc., please refer to its website at
http://www.doublecrownresources.com/.
Double Crown Resources, Inc.Jerold S. Drew, CEO & Chairman
of the Board10120 S. Eastern Ave. Suite 200Henderson, Nevada
89052Phone: (707) 961-6016Email: info@doublecrownresources.com