Discovery Minerals Signs Memorandum of Agreement with Deer Park Development Corporation to Acquire $9.5 Million in Assets
RENO, Nev., Dec. 19, 2012 /PRNewswire/ — Discovery Minerals is pleased to announce it has signed a Memorandum of Agreement to merge with Deer Park Development Corporation, a Nevada Real Estate Company with $9.5 million of audited assets.
Mr. Marty O’Malley, who graduated with a B.A. in Business from the University of Miami in 1976 will remain at the helm of Deer Park and guide and conduct the Company’s day-to-day operations. Mr. O’Malley has a vast network of connections and clients built up over thirty years with whom he will conduct business in Deer Park’s activities.
Deer Park’s business plan calls for buying, trading and managing properties in the cities of Phoenix, Arizona and Las Vegas, Nevada as its initial focus of activities. There are no geographic boundaries in their business plan.
Discovery Minerals will conduct its due diligence and both parties have established an Effective Date to complete the merger which will be on January 28(th )2013, 5pm PST.
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) (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 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
SOURCE Discovery Minerals Ltd.