HENDERSON, NV--(Marketwired - Apr 2, 2013) - Double Crown Resources, Inc. (OTCQB: DDCC), a fully reporting company (hereinafter, "Double Crown"), is pleased to announce that select private investors and associated groups are currently providing direct, non-brokered cash funding to the company in exchange for restricted equity shares. Since the beginning of 2013 private placement funding of over $176,000 has already been received by the company and another $13,000 has been committed.
This new funding will support company operations and project expansion plans in 2013. In return for these cash infusions, restricted shares are being issued which cannot be traded in the open market until after a six month holding period. These restricted shares were priced at the .005 level as an incentive to the buyers. All of the private placement investors are persons or groups who have followed the Double Crown story and have approached the company seeking to help fund our plans and projects in development.
President and CEO Jerry Drew commented, "It is extremely gratifying and encouraging to see significant private placement funding coming into Double Crown Resources at this time from investors who want to be part of our growth story. We spent all of 2012 laying groundwork to structure the company and its professional relationships with key contacts in our industry. Now in 2013 we are starting to execute on that groundwork and move our business plans forward into action. Our new oil product service and supply venture has multiple projects currently engaged at stages from concept to specific contract finalization. The private placement funding we have received recently has been extremely helpful to myself and other members of our management team who have had intensive activity in the past several months to firm up projects and secure the resources we need for fulfillment. I wish to express my sincere appreciation to the private placement investors and also to all general shareholders of DDCC. Further, I would like to confirm none of the company officers have sold any shares of DDCC stock into the general market to date in 2013."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the above-mentioned securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities issued in this private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and were issued and sold in a private placement pursuant to Regulation D of the Securities Act.
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration and development company holding a 100% interest in the McNab molybdenum property located in Southwest, British Columbia, Canada and the Bateman gold & nickel prospect near Thunder Bay, Ontario, Canada. In addition, Double Crown is targeting new properties as well as oilfield service projects that have the potential for early 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.
For more information, please visit: http://www.doublecrownresources.com/
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/