Double Crown Resources Executes MOU with Amity University and Prepares for Bulk Guar Gum Shipments via Intermodal Transport System
Negotiations Underway with Major U.S. Oil Drilling Company for 1st Guar Gum Supply Contract
HENDERSON, NV, April 26, 2017 (GLOBE NEWSWIRE) -- Double Crown Resources, Inc. (DDCC) is pleased to announce that a formal Memorandum of Understanding (MOU) has been executed with Amity University, a major research and technical innovation institution of India for the purposes of fully developing an economic business model for the advanced intermodal commodity transport system called Translock² (Translock Squared). Additionally, Double Crown management is currently negotiating with a large U.S. based oil drilling and production company regarding a multi-year supply contract for guar gum shipments from India. The agreement is expected to progress forward in conjunction with the work being conducted by Amity University to employ the Translock² system for commercial applications in the guar gum market. This commodity market is currently experiencing long term growth on a global scale as referenced in a current research report which can be referenced here: Global Guar Gum Powder Market to Reach 2.1 Million Tons by 2022 - openPR.
Regarding the signing of the MOU, Dr. Ashok Chauhan, Founder & President of Amity University commented, "I am very enthusiastic about the prospects for employing the Translock² system from Double Crown Resources to advance the state of the art for India's many farmers of guar and other important agricultural commodities. Our faculty at Amity University will be going to work immediately to develop the necessary financial analysis, economic projections and technical aspects needed to implement this significant new technology."
Double Crown management is also currently working with several large international importers/exporters for the advancement and testing of the industry/product specific Translock² units now under development. The participating clients are also involved in helping to raise the initial capital required for launch of our new projects and secure long term financing arrangements. Jerold S. Drew, CEO of Double Crown, commented, "We are very glad to have the involvement and endorsement of Amity University to help us bring the many advantages of the Translock² system to the world's commodity shippers. Amity's participation is already opening new opportunities for our marketing team and we expect the pace of our progress to quicken now that we have their support."
About Double Crown Resources, Inc.
Double Crown Resources, Inc., is a publicly traded company in the natural resources industry. In addition to our minerals and global commodities supply business, we market 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. 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.
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
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
News Link: http://www.globenewswire.com/news-release/2017/04/26/972828/0/en/Double-Crown-Resources-Executes-MOU-with-Amity-University-and-Prepares-for-Bulk-Guar-Gum-Shipments-via-Intermodal-Transport-System.html