Double Crown Resources Announces $20 Million Projected Revenue for Recent 5 Year Supply Agreement on Industrial Minerals
Additionally, Contract in Development for Advanced Transport System Nearing Completion
HENDERSON, NV, Nov. 11, 2015 (GLOBE NEWSWIRE) -- Double Crown Resources, Inc. (DDCC), a fully reporting company, would like to provide a comprehensive update today in this letter to shareholders from President Allen E. Lopez.
Dear DDCC Shareholders;
With all of the progress that Double Crown Resources has announced such as the signing of the 5 year Master Purchase Agreement (MPA) in our most recent announcement, we want to address the shareholders and many of their questions with regard to our marketing efforts and the scope of our business plans as we head into 2016. First and foremost, the 5 year MPA that we signed is for the global delivery of the oilfield drilling mineral barite. The value of this agreement has the potential to generate over $20 million (based on projected orders of 5,000 metric tons per quarter at $200 per ton cost plus freight). These projections may end up being greater or less based on prevailing market conditions and demands. The 4.2 density and above material that we have sourced is the high grade product that we will deliver. The details of the volumes, shipping dates, etc. will be announced per new orders as they come in and per our clients' permission. We currently have a significant order on the water and headed to the Port of Houston. Barite, and other industrial minerals are a necessity for modern offshore drilling operations and Double Crown is currently engaged in the delivery of this vital commodity.
Furthermore, Double Crown is currently prototyping and designing an industry-specific Translock² container system that is slated for the delivery of powder cement to offshore drilling platforms. Plain and simple, what Translock² does for many other products, it does especially well for powder cement. The system delivers bulk goods from the place of origin to the final destination, which in this case is offshore platforms, as well as the plugging and abandonment of old wells throughout the world. Double Crown is now in negotiations for a long term lease that is contingent upon final testing of the industry-specific units currently being performed. We believe that this will be the first of many such leases geared toward this segment of the cement market and we are confident that Translock² will prove to be an industry enhancement to the cement industry, saving time and money and providing a much more efficient and environmentally friendly means of delivery. Everyone is invited to view a detailed presentation on Translock² at Double Crown's website via this direct link: http://www.doublecrownresources.com/updated-translock-presentation.
The year of 2016 will be the time Double Crown is able to pool all its resources and engage the markets where we are very well prepared and positioned. We will employ the unique assets and advantages that we have in the Translock² system and utilize the friendships and excellent business relationships that we have established and continue to nurture. Double Crown's management hopes that all our shareholders will continue to closely follow our news announcements as we anticipate making great strides going forward on all fronts. We are more strongly committed than ever to our primary objective of delivering success and increased shareholder value for all our DDCC investors.
Allen E. Lopez, President
About Double Crown Resources, Inc.
Double Crown Resources, Inc., is a public, fully reporting company in the natural resources industry. In addition to our oilfield services business, we market the patent-pending, multi-advantage container system called Translock². This system is designed for highly efficient, economical and environmentally friendly shipment of aggregate commodities to the oilfield services industry. Additionally, we hold a 100% interest in the Bateman gold and nickel prospect near Thunder Bay, Ontario, Canada. Double Crown Resources, Inc., originally founded in 2006, is based in Henderson, NV with marketing offices in Houston, TX.
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.
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. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company's annual report on Form 10-K for the year ended December 31, 2014 as updated from time to time in our filings with the Securities and Exchange Commission. The Company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services. For further information about Double Crown Resources, Inc., please refer to its website at http://www.doublecrownresources.com.
CONTACT: Double Crown Resources, Inc.
Jerold S. Drew, CEO & Chairman of the Board
10120 S. Eastern Ave. Suite 200
Henderson, Nevada 89052
Phone: (707) 961-6016
(November 11, 2015 - 8:30 AM EST)
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