HENDERSON, Nev.--(BUSINESS WIRE)--July 31, 2014 -- Double Crown Resources, Inc. (OTCQB: DDCC), a fully reporting company, (hereinafter, "Double Crown") would like to update its shareholders and associates on plans for a full execution of the company's mission in the 2nd half of 2014 and beyond. To date, Double Crown management has made great progress positioning the company as a first class supplier of vital oilfield service minerals and related commodities. Chief among these materials are fracturing sand, the mineral barite, plant-based guar gum and specialty chemicals. We have established excellent relationships with our product suppliers, strategic alliance partners and our customer base which includes some of the largest petroleum industry names. Double Crown plans to meet all the requirements of its customers by fully implementing our company business plan which has just been comprehensively revised to reflect all of our assets, industry expert personnel & associates, properties, resources and our patent-pending material transport technology. With this enhanced business plan in hand, Double Crown management is currently engaged in talks with major lending institutions to arrange a long-term financial support package for the company.
The financial package now being negotiated for Double Crown is intended to fund the following high priority projects to full development:
1. Renovation, reconstruction and upgrades of our materials processing plant & bulk terminal at New Orleans, Louisiana. When all planned work is completed this facility will be set up for high volume fracturing sand drying/preparation, barite grinding and guar slurry mixing.
2. Completing corporate acquisitions of key commodity product suppliers and construction of needed processing facilities at their respective locations.
3. Commencing mass production of Double Crown's multi-advantage, patent-pending aggregate materials transport container system for the most efficient, cost effective and environmentally friendly delivery of our products. This system will also be offered for lease to outside users in a variety of transport roles including agricultural applications.
Double Crown management also wishes to reaffirm its message to shareholders that we greatly appreciate the support of all investors who have helped bring the company to its current state of capability and industry positioning. Our management remains committed to working for the enhancement of DDCC shareholder value. One important point we would like to make is that we have no plans to execute any reverse stock split at this time. Additionally, Double Crown management recognizes the importance of keeping its investors informed about company status and progress. To meet this responsibility we operate as a fully reporting company with complete SEC filing compliance. We also issue news releases, website updates, audio interviews, video presentations and other communications as often as possible. We further invite shareholders to contact us with questions or comments at any time or to visit our offices by appointment and meet with us in person.
This is a very high potential time for Double Crown and our industry. Demand and growth in the petroleum energy market is expanding at a dynamic pace today, especially in the North American and other shale oilfields at which there is a huge need for the commodity products our company is set up to supply. Much of this demand is due to the increasing employment of modern extraction methods such as hydraulic fracturing. Between 2000 and 2013, the oil and gas industry invested over $2 trillion in U.S. capital projects to advance all forms of energy and the industry is expected to invest more than $5.1 trillion in cumulative expenditures by 2035. In the United States, approximately 35,000 wells are hydraulically fractured annually. More than 1 million wells have been hydraulically fractured since the 1940s. The movement for American energy independence is expected to continue to drive the growth in domestic exploration and production. With the combination of our established high quality product resources, our newly redesigned, patent-pending, aggregate material transport system and our New Orleans processing plant & bulk terminal, Double Crown has the potential to become a very significant participant in the modern petroleum energy market. We are working every day to fulfill all of this potential and live up to our corporate slogan; "We drive the minerals that drive the market."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration and development company holding a 100% interest in the Bateman gold & nickel prospect near Thunder Bay, Ontario, Canada. In addition, Double Crown is targeting new properties as well as oilfield supply & service projects that have the potential for near-term positive cash flow. The company is presently reviewing a number of new natural resource properties that are near to, or in production, located in North, South and Latin America. Multiple oilfield service projects are currently under active development. Double Crown Resources, Inc., originally founded in 2006, is based in Henderson, NV.
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/.