HENDERSON, Nev, Nov. 16, 2015 (GLOBE NEWSWIRE) -- Double Crown Resources, Inc. (DDCC), a fully reporting company, announces that a new mineral supply agreement has been negotiated for industrial shipments of cement copper slated for South Korea. Cement copper is used in the production of copper matte for the final preparation of refined copper and has many end-use applications. A letter of credit is in place to fund the initial pilot shipment. Upon the completed pilot delivery and its successful testing results, final details will be established on a proposed 36 month contract valued at $1.1 million per month, for a total gross revenue of over $40 million. This contract has the potential to increase significantly as the market demands. Double Crown management expects this supply order to be followed by a range of strategic mineral contracts with our South Korean client.
Company CEO and Chairman Jerold S. Drew commented, "We have now demonstrated to the marketplace that Double Crown Resources has established many excellent business relationships that are leading to commercial orders. These relationships are with some of the highest grade mineral and mining supply companies throughout the world. Utilizing our logistical capacities and advantages, we are now demonstrating that our assets and contacts, together with our advanced, patent-pending Translock² transport system, have well-positioned Double Crown to take its place in the global industrial minerals market and made us true to our company slogan: We drive the minerals that drive the market."
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.
Forward-Looking Statements
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.