HENDERSON, Nev., April 30, 2015 (GLOBE NEWSWIRE) -- Double Crown Resources, Inc. (OTCQB: DDCC), a fully reporting company, announces the signing of a Memorandum of Understanding (MOU) to acquire 100% of the ownership interest in Coast to Coast Minerals, LLC ("CTCM"), a Texas limited liability company, with mineral properties including iron ore, high grade barite and a variety of commodity resources. CTCM also has commercial relationships in Mexico. This acquisition, in exchange for DDCC equity, will provide Double Crown with established logistical relationships for trucking, rail transport and water shipping throughout Mexico. Additionally, CTCM has a signed Letter of Intent (LOI) and Full Corporate Offer (FCO) to sell up to 700,000 metric tons of iron ore over a three year period. We anticipate that this LOI will develop into a contract in the near term.
CTCM is also negotiating contracts for the supply of materials including, but not limited to, strategic minerals and commodities to global buyers. CTCM has a registration with the Padron de Exportadores for exporting ferrous minerals and precious metals. Also, CTCM's resources include the minerals barite and bentonite, as well as others. Marvin Blethen, PE, President of Blethen Mine Consultants, LLC who serves as one of Double Crown's Mining & Oilfield Project Specialists, has reviewed the geologic data provided by CTCM and believes the properties to be viable mining sources with quality mineral assets. Mr. Blethen will continue to review additional requested information during the due diligence period of the MOU.
Regarding the MOU and associated new business plans, President Allen E. Lopez stated, "Our Double Crown Resources team already has a great working relationship with Coast to Coast Minerals. The highly complementary functions and assets of our two companies make this acquisition an ideal corporate development at the current time. Coast to Coast will provide us with access to a wide variety of products in Mexico as well as an opportunity to implement the TransLock² system for our own deliveries. TransLock² will thus be able to demonstrate its commercial viability and unmatched capabilities generating multiple benefits and significant cost savings for our purchasers. The potential sales agreements that Coast to Coast has in negotiations may provide us with the ability to create positive cash flow for Double Crown Resources in the near term."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. (Trading Symbol: DDCC) is a public, fully reporting company in the natural resource development and supply business with a primary focus on marketing the patent-pending, multi-advantage container system called TransLock² (TransLock Squared). This system is designed for highly efficient, economical and environmentally friendly shipment of aggregate commodities to the oilfield services industry. TransLock² may also be used to transport fluid shipments for a wide range of other industries including agriculture, chemicals, construction, etc. Oilfield service & commodity supply projects are another main focus of marketing activity. Additionally, the company holds a 100% interest in the Bateman gold & 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. 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/.
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 Email:firstname.lastname@example.org Source:Double Crown Resources, Inc.