Reno, NV, June 28, 2013 -- Discovery Minerals, Ltd. (DSCR) is pleased to announce it has signed an agreement to merge with Deer Park Development Corporation, a Nevada Real Estate Company. The two companies recently signed a Securities Exchange Agreement and Plan of Reorganization. The parties are proceeding to a final settlement with an effective merger date planned for July 1, 2013.
The transaction will be completed when the share exchange between the corporations has been performed. This will be done as soon as possible allowing for all appropriate procedures to be observed. Once concluded, Deer Park will be a wholly-owned subsidiary of Discovery Minerals.
Deer Park brings interests, equity, rights and entitlements in a variety of businesses that include gaming machines, entertainment and leisure facilities, alternative energy technology assets and a list of real estate transactions that can be executed by the current President, Mr. Marty O'Malley, who will remain at the helm of the subsidiary.
The Board of Directors of both companies will combine efforts to maximize the potential profits that are held in Deer Park via their assets and extensive business connections.
Discovery Minerals is a U.S.-based metals exploration and development company focused on projects in the Western United States and California in particular. The Company is led by an experienced board of directors and management team with extensive corporate, exploration, mine development and production operation records in the US and Australia.
About Discovery Minerals Ltd.:
Discovery Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel:D7Z) (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.
- Investment & Company Information