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Discovery Minerals Ltd Announces Record Date of September 13, 2013 for Issuing Anti-Dilutive Convertible Preferred Securities to Confirmed Shareholders in Street Name.
Discovery Minerals Ltd Announces Record Date of September 13, 2013 for Issuing Anti-Dilutive Convertible Preferred Securities to Confirmed Shareholders in Street Name..
About this update from Discovery Minerals Ltd.
[{"type":"text","content":"\n \n \n \n\n\nDiscovery Minerals Ltd Announces\nRecord Date of September 13, 2013 for Issuing Anti-Dilutive Convertible\nPreferred Securities to Confirmed Shareholders in Street Name.\n\nAug 13, 2013\n\nOTC Disclosure & News Service\n\nReno, NV -\n\nACCESSWIRE)\n8/13/2013 10:00:00 AM - Discovery Minerals Ltd. (OTC PINK: DSCR)\nis pleased to announce that it will be issuing Anti-Dilutive Convertible\nPreferred Shares to confirmed shareholders in street name on or before\nSeptember 13, 2013. These are hybrid securities that are\ndesigned to protect investors and investments from dilution, while ensuring\nthat the Company does not take on any further debt on its balance sheet. These\nsecurities that are being issued to our common shareholders will form the\nnucleus of a registration statement that we will be filing with the SEC. We\nwill commence with the issuance of these securities, by having the common\nshareholders contact us, no later than September 13, 2013 so that our\ndesignate corporate secretary will know where to make delivery of the aforementioned\nsecurities for each of the stockholders. We will ask that our current common\nstockholders provide detail proof(s) of the amount of shares held on deposits\nand their cash value on deposits with their broker\ndealer, (Email response to: [email protected] ) so\nthat we can issue the appropriate amount of convertible preferred stock as a\nfunction of the equity invested by each stockholder. There will be no\nfurther issuance resolutions by DSCR's management and use of rule 144 by\nstockholders, as a provision to convert debt that is not already aged, until\nDSCR completes a registration statement with the SEC. These securities will be\npriced at $2.50 per share, will be anti-dilutive, convert\nat par value of DSCR and will be dividend capable. Additionally, once the\ncompany has completed its audit, which Malone Bailey LLP has commenced, these\nsecurities will form the reconstituted Issued Capital that will be registered\nby DSCR to create new freely traded securities for its shareholders. Discovery\nMinerals Ltd. will host a conference call on Tuesday, September 3, 2013 at 2:00\np.m. Pacific Time / 5: 00 p.m. Eastern Time. The live call will\ninclude a moderated Q&A, after the prepare...