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Palayan Resources, Inc. (PLYN)

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Previous Close0.0700
Open0.0677
BidN/A x N/A
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Day's Range0.0677 - 0.0794
52 Week Range0.0600 - 0.9800
Volume69,628
Avg. Volume860,714
Market Cap2.491M
Beta (5Y Monthly)5.70
PE Ratio (TTM)N/A
EPS (TTM)-0.0140
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • Palayan Resources Gives Update on Company
    GlobeNewswire

    Palayan Resources Gives Update on Company

    Lady Lake, FL, May 10, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Palayan Resources, Inc. (the “Company” or “Palayan”) (OTCMarkets: PLYN), a publicly traded, fully reporting emerging growth company, reports that the previously reported joint venture with Provenance Gold Corp. has been rescinded. The rescission was mutually agreed to and requires no further action. Management recognizes the Company needs to move in a new direction and will pursue acquisition opportunities that will benefit private companies through PLYN’s public status. The benefit to the Company and its shareholders will be from acquisitions based on growth and revenue of targeted acquisitions. PLYN will be restructured as a holding company seeking transactions on a managed basis, acquiring controlling interests in acquisition targets as subsidiaries of the Company. Using a holding company strategy, the company will be able to mitigate risk while making multiple acquisitions. All targeted acquisitions must be audited or auditable. The Company will make either majority or minority investments in companies that meet its investment criteria. As a holding company PLYN will not manufacture anything, sell any products or services, or conduct any other business operations. Its purpose, as the name implies, is to hold the controlling stock or membership interests in other companies. The Company is taking an agnostic approach regarding industry. In almost every contemplated acquisition PLYN will retain the acquired management team. The subsidiary, having its own management, will run the day-to-day business. The retention of management post-transaction will maintain operational continuity. PLYN’s management will be responsible for overseeing the operations of the subsidiaries and assisting management as needed. The Company is seeking opportunities in mature private companies in transition or growth mode. Management has begun sourcing opportunities through a number of third-party organizations. Transactions will be subject to industry standard due diligence requirements. Of course, no two acquisitions are the same, so the due diligence process will vary from one situation to the next. In general, however, there are up to five types of due diligence; (i) Business; (ii) Accounting; (iii) Legal; (iv) Valuation and (v) Environmental, that will need to be completed as part of the process for any proposed transaction. The Company has renewed its Consulting and Services Agreement with Cicero Transact to develop a new web and social media presence based on the Company’s new growth strategy, as well as identify potential acquisition targets. About Palayan Resources, Inc. Palayan Resources, Inc. is an emerging growth company. The Company will focus on pursuing acquisition opportunities that can benefit private companies through PLYN’s public status, acquiring revenue producing transactions. Headquartered in Lady Lake, FL, Palayan Resources is aiming to build a portfolio of companies that generate revenue and profitability. For more information: Contact us via: info@palayanresourcesinc.com Phone: (407) 536-9422 Cautionary Note to U.S. and Foreign Investors Palayan Resources Inc., (PLYN) a public shell company that has its common stock trade on OTCMarkets under the symbol “PLYN”. PLYN files information with OTCMarkets. PLYN is a going concern. The reports filed with OTCMarkets should be read by any potential investor prior to making an investment decision. The information filed with OTCMarkets is available at http://www.otcmarkets.com/stock/PLYN/quote. Palayan Resources Inc. (“the Company”), a Nevada corporation, is being reorganized as a holding company. The Company became a public company on July 26, 2013. On November 12, 2014, the Company’s S1 went effective, the shares from the S1, as off the current date, are all free trading, there are 29,948,000 unrestricted shares available in the market, 29,558,879 held at DTC. Forward Looking Statements – Safe Harbor This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. The Company has no mineral resource or reserve estimate in any project at this time and may not have sufficient funding to thoroughly explore, drill or develop any mineral rights. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov. Source: Palayan Resources, Inc.

  • Palayan Resources Announces Commencement of Drill Program
    GlobeNewswire

    Palayan Resources Announces Commencement of Drill Program

    Lady Lake, FL, Feb. 09, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Palayan Resources, Inc. (the “Company” or “PLYN”) (OTCMarkets: PLYN), and Provenance Gold Corp. (the “Company” or “PAU”) (CSE: PAU) (FSE: 3PG) are pleased to announce commencement of their initial drilling program, by and though their newly formed Joint Venture company, GS Exploration Corporation, on the Silver Bow gold and silver property in Nye County, Nevada. The drill rig is presently being mobilized and drilling is set to begin by the end of the week. Palayan has funded the initial tranche due under the Joint Venture Agreement which enabled the mobilization of machinery to commence drilling operations. The Silver Bow project hosts a gold and silver system that extends across the five-kilometer length of the property, with numerous small historic mines and prospects across the property. Provenance has previously identified multiple targets on the property, which hosts both open-pit and deep deposits of gold and silver. Drilling will focus on a central portion of the property on which a small historic mine produced high-grade gold and silver from a shallow vein. The vein is associated with thick zones of lower grade breccia mineralization. Historically, miners produced extremely high-grade gold ores from veins on the claim. Provenance confirmed this with random dump samples that returned 293 g/t Au, 12.4 g/t Au and 10.2 g/t Au. The breccia portion of the target was tested in 1993 with three holes which returned typical intervals of 45 to 82 meters of 0.13 to 1.03 g/t Au and 5.6 to 75.8 g/t Ag. No known historic drilling has occurred on the high-grade vein zone. James Jenkins, CEO of Palayan, stated, “This is a significant day for Palayan and its shareholders; after months of hard work, drilling is finally set to commence. Initially, drilling will involve 20 reverse circulation holes from 12 distinct locations, all spaced out along the exposed mineralized ridge. “We worked diligently to get to this point, and the wait was definitely worth it. We anticipate the drill program to yield positive results which will enable us to continue to grow as a company, creating shareholder value that we have set as our goal,” concluded Jenkins. About Palayan Resources, Inc. Palayan Resources, Inc. is an emerging growth company. The Company is focused on operating, developing, exploring and acquiring high-quality projects worldwide. Headquartered in Lady Lake, FL, Palayan Resources is aiming to build a portfolio of companies that generate revenue and profitability. For more information: Contact us via: info@palayanresourcesinc.com Phone: (407) 536-9422 Cautionary Note to Investors The United States Securities and Exchange Commission ("SEC") limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce and that are compliant with SEC Industry Guide 7. Investors are cautioned not to assume than any part or all of the proposed project in the Silver Bow Property as contemplated in the letter agreement contains any mineral deposits that will ever be converted into resources or that any inferred mineral resource or measured and indicated resources exists or is economically or legally mineable. The proposed project does not contain any known proven or probably ore reserves or mineral resource compliant with SEC Industry Guide 7 reporting standards. Forward Looking Statements This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, securing necessary financing, the future of the U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations pertaining to the mining and exploration of mineral properties. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. The Company has no mineral resource or reserve estimate in any project at this time and may not have sufficient funding to thoroughly explore, drill or develop any mineral rights. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

  • Provenance Gold Signs Definitive Joint Venture Agreement for the Drilling and Exploration of its Silver Bow Property
    Newsfile

    Provenance Gold Signs Definitive Joint Venture Agreement for the Drilling and Exploration of its Silver Bow Property

    Vancouver, British Columbia--(Newsfile Corp. - January 13, 2021) - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) (the "Company" or "Provenance") is pleased to announce that the Company has signed a definitive Joint Venture Agreement (the "JV") with Palayan Resources, Inc. (OTC Pink: PLYN) ("Palayan"), to drill and explore its Silver Bow property in Nye County, Nevada. The companies believe the property hosts several excellent gold and silver exploration targets. Under the terms of ...