Dutch Gold Clarifies and Reiterates Intention to Declare Dividend
April 16 2014 - 9:44AM
Access Wire
ATLANTA, GA / ACCESSWIRE / April 16, 2014 / Dutch Gold
Resources, Inc. (DGRI.OTC) (the "Company")
(http://dutchgoldinc.com) today clarified to shareholders its
intention to declare a 10% dividend, and reaffirmed its intention
to do so.
On January 30, 2014, the Company issued an 8K wherein was
quoted, "Over the next three months, management will take active
steps to rationalize our capital structure and clean up our balance
sheet. We will complete a spin-out of the remaining mining
interests and we will aggressively pursue the clean up of our
balance sheet. We expect to focus all of our energy on new
subsidiaries in a corporate structure that will reward our new
operational partners and our current shareholders. In so doing, it
is our intention to catch up our filings with the Securities &
Exchange Commission as quickly as financing allows. We expect that
these tasks will be completed by April 15, at which time the
Company will declare a stock dividend of ten percent to
shareholders of record as of that date". The Company has not yet
brought current its filings with the Securities and Exchange
Commission, although it is in the process of doing so. At
such time as this step is completed, the Company reaffirms its
intention to declare a dividend.
Under the Company's current business model, we expect to take
positions in other companies that we help finance, whether through
commercial financing or through our soon to be released
crowd-funding platform. When we see potential for growth in
these holdings, we intend to spin them out to DGRI via an S-4 or
other applicable registration model. Given the Company's
current cash constraints, any dividend during 2014, will be in the
form of a common or preferred share of DGRI, or a spinout through
an S-4.
Said Daniel Hollis, CEO, "We have received numerous inquiries
regarding the proposed dividend, wherein shareholders failed to
recognize the conditions precedent to the declaration of a
dividend. Given the deluge of information about the new
direction of the Company, this is understandable. We are
committed to building shareholder value, making sure that our
legitimate shareholders are rewarded, and making it difficult for
others to "short" our stock. The dividend mechanism, as a
reflection of our corporate growth helps us accomplish all of the
goals".
The Company has come to an agreement with its new auditor, and
has received the cooperation of its' prior auditor so that we may
file an 8K announcing the new engagement and begin work on the
audits by April 18, 2014. The target date for the completion
of the audits is now mid June 2014. We are appreciative of
the cooperation from our prior firm and look forward to moving
briskly with our new auditor.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Dutch Gold Resources, Inc. are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
For further information, please see www.DutchGoldInc.com or
please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at
404-981-7424.
SOURCE: Dutch Gold Resources, Inc.