Replies to post #57069 on Universal Apparel and Textile Co. (DKGR)

[Ainagen]

Monday, 26 May 2014
Drake Gold Resources Inc. (DKGR:OTC) enters discussions for a Large Textile Contract
Drake Gold Resources Inc.'s (DKGR:OTC) wholly-owned subsidiary, Universal Apparel Company, is pleased to announce that it has entered negotiations with a large Illinois wholesaler to supply four containers of high quality Twill Cargo short pants for the spring/summer season of 2015. Each container will hold 18,000 pieces of these short pants making the total volume of the contract consist of 72,000 pieces which equates to $400,000 dollars.

If the negotiations prove successful, Universal Apparel Company will receive the purchase order in the first part of June 2014 . Immediately upon receipt of this order, a corresponding factory in Bangladesh will develop the pre-production sample needed for buyer approval. Once the confirmation is received, full production will begin in July 2014 resulting in the first shipment arriving in the Chicago warehouse by the middle of December 2014 . The company is expected to complete all shipments by March of 2015.

Updates will be forthcoming.

This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.