Announces Plan to Issue Anti-Dilutive Securities
July 25 2013 - 12:11PM
OTC Markets
Discovery Minerals Ltd (DSCR) Announces Plan to Issue
Anti-Dilutive Convertible Preferred Securities to its confirmed
shareholders in
street name.
Reno,
NV (eTeligis via ACCESSWIRE) 7/12/2013 7:10:00 AM - Discovery
Minerals Ltd.
(OTC PINK: DSCR) is pleased to announce that it will be
issuing
Anti-Dilutive Convertible Preferred Stock to all confirmed
stockholders in
street name, to compliment the same preferred shares that it has
issued to
management and shareholders of record. Discovery Minerals Ltd is
also seeking to
negotiate its debt issuances from its note holders by issuing these
equity
securities as an exchange for these obligations.
Russell Smith, CEO of Discovery
Minerals states, "We believe the issuance of these securities helps
our
stockholders to retain the integrity of their investments, while
the company
seeks to negotiate the balance of its debt obligations. Our
objective is to
start issuing these securities to our stockholders once we have
arrived at a
record date for stockholders to confirm their holdings. This is the
first step
of our three pronged plan to build value in Discovery Minerals.
Lowering our
debt obligations, protecting our stockholders from volatile market
conditions,
and enhancing our financial statements are necessary to restoring
investor
confidence. We have challenges ahead, but this a crucial first
opportunity to
eliminate the differences between debt holders, stockholders of
record and
confirmed stockholders in street name with the issuance of this
different class
of security.
About Discovery Minerals Ltd.:
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
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.
Discovery Minerals (CE) (USOTC:DSCR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Discovery Minerals (CE) (USOTC:DSCR)
Historical Stock Chart
From Jul 2023 to Jul 2024