Engagement of Auditing Firm
July 13 2013 - 4:30PM
OTC Markets
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.
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