Double Crown Resources Announces Success on Multiple Projects; Deal for Guatemalan Barite, Positive Ruling on Legal Claim...
15 May 2014 - 2:00PM
Business Wire
All Company Business Plans Moving Forward
May 15, 2014 -- Double Crown Resources, Inc. (OTCQB: DDCC),
a fully reporting company, (hereinafter, "Double
Crown"), has updates on several positive developments
which have been achieved recently with some of its
most important projects. First, an agreement has
been reached granting Double Crown rights to
all barite ore from the Bilojom II barite mine in
Guatemala. The formal contract signing for this agreement is
expected next week. Barite is a strategic mineral
needed for both on-shore and off-shore oilfield drilling
methods today. Under terms of the agreement, Double Crown will
partner with the mine’s original owner, Mr. Jorge Luis Avalos and
his company, Geominas S.A. de CV, which is well established in
Guatemala.
Secondly, a legal counterclaim brought over trade secrets
and related issues involving Double Crown's Transprop AGG
transport system has been dismissed without prejudice. This is
a favorable court ruling for Double Crown and its wholly
owned subsidiary DDCC Marketing Group, LLC. Although an
amended counterclaim is expected to be filed in the near
future, Double Crown strongly disputes its liability and
intends both to defend itself vigorously and to obtain a
declaratory judgment vindicating the unique, patentable
characteristics of its system. Double Crown has filed
a provisional patent application with the U.S. Patent &
Trademark Office on April 11, 2014 to protect our ability to
develop and market our transport system. We will move
forward now with full development and commercial deployment of
this important product. Plans for a greatly improved version
of the transport system are currently in late stage
development and a working prototype unit is expected within 30
days.
Regarding the new agreement for Guatemalan barite, Double
Crown's Chief Operating Officer Antonio B. Castillo commented, "We
have been working for over a year's time to bring the valuable
mineral resources of Guatemala into our package of
available assets for oilfield drilling customers. The barite
from Guatemala is some of the best quality in the world and we will
now have exclusive rights to 100% of the ore from the Bilojom
II mining operation for this mineral in Guatemala. Sincere thanks
must be expressed to everyone who made this arrangement possible
especially our local business associate, Mr. Johans Perez. Mr.
Perez and his team in Guatemala served as our boots on
the ground throughout all of the research,
surveying, sampling and other due diligence phases of
this project. A successful result would not have been possible
without their very professional, long-term commitment and
dedication. Additionally, two weeks ago I traveled to Guatemala to
meet with representatives of the government's Ministry
of Energy and Mining. These representatives included Vice
Minister Ivanova Ancheta Alvarado and General Director of Mining
Fernando Castellanos Barquin. These high-ranking members of
the Guatemalan government have shown
tremendous support and enthusiasm for the project with Double
Crown Resources. We are proud to be a part of the revitalization
efforts in the mining industry of Guatemala and what this will mean
to its people. It is our hope that revenue generated
from the revitalization of the Guatemalan mining industry can
change the lives of the local people in need.” At this time Double
Crown also has an update on the company's first purchase order for
barite from Mexico which was announced in February. Our management
had a successful meeting last week with officers of the Mexican
government to advance this project. As a result, we anticipate
delivery to the purchaser's drilling site for proving-up
tests in less than a month's time. More information will
follow as it becomes available.
On the subject of Double Crown's aggregate material transport
system, President Allen E. Lopez had this to say,
"Recent design engineering work has produced a new system
that is far advanced from the original Transprop AGG. We have
worked diligently to perfect the interlocking, multi
delivery/conveyance, transport system designed for multiple
products and multiple industries. The advanced
design is being prototyped now and will be tested at our
facility in Texas in a few weeks. The new system will deliver
where all the others fall short and will outperform the
original Transprop AGG design in numerous key functions.
The new design is a sophisticated, multi-function,
manual/pneumatic, double stack, interlock, intermodel, industrial
quantity, multi product, global transport, transload, transfer
system. Improved features include; multiple conveyance units,
interlocking boot, manual and pneumatic options, all mechanisms
operable while units are stacked and multiple conveyance
delivery system. Our management team is very appreciative of all
the contributions from professional alliances we have forged
to date. The steps forward we have taken are leading us steadily
towards our primary goal of turning Double Crown Resources into a
performing, profitable corporation. We are very bullish of the
future and expect to be releasing more positive news
shortly."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration
and development company holding a 100% interest in the Bateman gold
& nickel prospect near Thunder Bay, Ontario, Canada. In
addition, Double Crown is targeting new properties as well as
oilfield supply & service projects that have the potential
for near-term positive cash flow. The company is presently
reviewing a number of new natural resource properties that are near
to, or in production, located in North, South and Latin America.
Multiple oilfield service projects are currently under active
development. Double Crown Resources, Inc., originally founded in
2006, is based in Henderson, NV.
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. Actual results could
differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as
described in this press release. 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 Board10120 S. Eastern Ave. Suite 200Henderson, Nevada
89052Phone: (707) 961-6016Email: info@doublecrownresources.com