Double Crown Resources Moves Forward on Acquisition of Latin
American Gold and Precious Metals Property
New Plans Aim to Significantly Increase Company Revenue Flow by
Mid-2016
HENDERSON, NV -- February 3, 2016 -- InvestorsHub NewsWire --
Double Crown Resources, Inc. (DDCC),
a fully reporting company, is pleased to announce it has
executed a binding Letter of Intent to acquire
controlling interest in a Latin American precious
metals resource property which has yielded gold, silver
and other valuable metals for hundreds of years.
Upon completion of due diligence, Double Crown will contract to
purchase 51% ownership of the property and assume its
management role. Since all previous precious metals
extractions from this property have been done only by
local populations using manual methods, there is
excellent opportunity for Double Crown to utilize
modern technology to expand the scale of recovery to a
level appropriate for the global markets.
Double Crown intends to finance new commercial production
of the region and this acquisition by leveraging the
revenues earned from its recent gold supply contract
announced on January 7, 2016. The loan package that is
being developed will provide for acquisition and production
costs. Debt servicing of the loan will be paid for by Double
Crown from its negotiated fees on the first supply
contract. Double Crown has committed to invest up to $1,000,000 of
its fees towards the new loan which will provide Double Crown
controlling interest in mineral rights. It is estimated that
Phase I of production can result in cash flowing to
Double Crown by June of 2016. At this time,
we are negotiating with several additional
buyers for precious metals and we intend to sign new
contracts in the near future. Our next steps are
to procure the loan package as well as to confirm the
acquisition regions precious mineral resources and/or reserves by
additional sampling and testing and then issue a 43-101
document. Further information will be released as progress is
made.
Regarding these acquisition plans, President Allen E. Lopez
commented, "With the global commodities markets turning
so strongly in favor of gold and precious metals now, Double
Crown Resources has adapted its business plan to focus a
primary effort on this high value sector. We also
anticipate that Phase II of the original gold supply contract which
was recently announced, has the potential to more than double our
net compensation. Phase II, which would begin in a
few months, will allow for payment of our operating costs
as well as other obligations such as implementation of
Translock containers specifically
built for precious metals and related aggregate
materials. Our updated business plan is close to completion
and we will be touching on its high points in future
announcements. At this time, Double Crown management
would like to offer sincere appreciation for all the support we
have received from our investors in the last few months as we
worked to establish our position in the precious metals
markets. We intend to do everything in our power
to repay that support with enhanced
shareholder value in the balance of 2016 and
beyond.
About Double Crown Resources, Inc.
Double Crown Resources, Inc., is a public, fully reporting company
in the natural resources industry. In addition to our oilfield
services business, we market the patent-pending, multi-advantage
container system called Translock. This system is designed for
highly efficient, economical and environmentally friendly shipment
of aggregate commodities to the oilfield services industry.
Additionally, we hold a 100% interest in the Bateman gold and
nickel prospect near Thunder Bay, Ontario, Canada. Double Crown
Resources, Inc., originally founded in 2006, is based in Henderson,
NV with marketing offices in Houston, TX.
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. Such forward-looking statements
include risks and uncertainties, and there are important factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. These
factors, risks and uncertainties are discussed in the Company's
annual report on Form 10-K for the year ended December 31, 2014 as
updated from time to time in our filings with the Securities and
Exchange Commission. The Company is not responsible for updating
the information contained in this press release beyond the
published date, or for changes made to this document by wire
services or Internet services. 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 Board
10120 S. Eastern Ave. Suite 200
Henderson, Nevada 89052
Phone: (707) 961-6016
Email: info@doublecrownresources.com