Discovery Minerals Ltd. announces its Intent to become a fully reporting Issuer by retaining PCAOB Accounting Firm, MaloneBailey, LLP to audit its Financial Statements.
July 12, 2013 (ACCESSWIRE via COMTEX) -- Reno, NV, July 12,
2013 -- Discovery Minerals Ltd. (OTCPink: DSCR) is pleased to announce
that it will be proceeding with a two year US GAAP standard audit, so that it
can become a fully reporting Issuer. MaloneBailey, LLP, a reputable PCAOB
accounting firm will commence with the audit, before the end of July, 2013.
Preparations will also be made to initiate a registration, or Form S1 filing
with the SEC, once the company restructures its remaining affiliate and non-affiliate
debt obligations.
Russell Smith, CEO, of Discovery Minerals states, "We must become a fully reporting issuer, so that we can file directly with the SEC. Audited financial statements are the cornerstone of transparent companies, and we need to meet this objective in order to give our shareholders more confidence. We have been a current filer with OTC Markets for some time, but as a domestic issuer, we need to take that next step of filing audited statements, and registering with the SEC, so that we can attract investment dollars for our various project requirements."
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) (OTCPink: 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
Telephone: 1.408.656.0143
SOURCE Discovery Minerals Ltd.