NEW YORK, NY, June 28, 2013 - (eTeligis via ACCESSWIRE) -- Discovery Minerals, Ltd.'s (OTC Pink: DSCR) CEO Russell Smith announced that Discovery is implementing a Three-Step Plan to get the Company on track to success.
The Company already took steps to enhance its public disclosure on OTC Markets by remaining current in its reporting obligations. Corporately, Discovery amended its Articles of Incorporation and Corporate Bylaws to create a series of Anti-Dilutive, Convertible Preferred Shares to protect its majority stakeholders. These securities will soon become available to the common shareholders. The mandate, moving forward, is to start re-organizing the debt on the balance sheet, so the company is debt-free.
Next, Discovery Minerals plans to register its securities to become an OTCBB company. The last part of the plan is to enhance the Net Stock Holders' Equity in the Company by acquiring or joint-venturing with profitable mining operations, and/or assets, using its Convertible Preferred Stock as currency.
Russell Smith, CEO of Discovery Minerals Inc., said "The 3-Step Plan is necessary to attract investment and equity into Discovery. We will also restore investor confidence if we commit ourselves to remove affiliate and non-affiliate debt, register with the SEC and file audited financial statements. We will also aim to build net stockholders' equity on the balance sheet. This is a process we are committed to forging ahead with, and our resolve to complete those tasks are a function of effort, teamwork and time".
He further stated, "We have a team of very qualified professionals to implement this strategy and our mandate, moving forward, while we add sound accounting and legal representation to make good on this Agenda. Additionally, Discovery will seek a more transparent dialogue with its investors, as to the clarity of implementing those objectives. As we meet certain milestones, the investment community will be more thoroughly aware through our disclosures and public records."
About Discovery Minerals Inc.:
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 has 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.
Company Contact Information:
Mr. Henry Manayan, Esq., Chief Operating Officer
Discovery Minerals, Ltd.
429 West Plumb Lane
Reno, Nevada 89509
SOURCE: Discovery Minerals Ltd.