MDOR.OB NEWS $40 Million Contract, Magnum D'Or Resources Increases its 5-Year Agreement with National Sales & Supply for Rubber Nuggets to $40,000,000 Wednesday July 2, 8:56 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Magnum D'Or Resources, Inc. (OTCBB:MDOR - News) (Magnum) announces signing and closing of a 5 year, $40,000,000.00 ($8,000,000.00 annually) contract, with National Sales & Supply (NSS, LLC) for rubber nuggets, effective immediately.
Magnum, under this new increased production agreement, will sell and supply NSS, LLC with rubber nuggets in order to help fulfill their open orders & contracts with large corporations such as Wal-Mart, Home Depot, and Lowes amongst many others. Magnum will use its patented technology, through the process of recycling scrap rubber tires, to produce this new product.
Joseph Glusic, President of Magnum, stated, "We are now accelerating our presence in the rapidly growing `Green Market' using our licensed unique worldwide patented technology. We are beginning to fulfill our mission by doing our part to eliminate global pollution generated by used tires and scrap rubber constituents in landfills."
With the commencement of shipment of our Crumb Rubber Plant, Magnum will now have a fully functional and wholly owned operating facility in North America. Financing for the turn key plant was procured through the manufacturer, while shipment and start-up costs are being borne directly by Magnum through a non-dilutive conventional financing arrangement.
Magnum, through its exclusive licensing rights and its modern technology, controls a number of patents for the re-composition of rubber, the production of EPDM powders, and EPDM compounds that could potentially revolutionize the rubber recycling industry in North America and China.
Magnum is executing its business and marketing plan to become a Global Leader in the Recycling industry, by providing: Turnkey Recycling Plants, Operational Assistance, Consulting Resources, Waste Management Solutions, and Heavy Recycling Equipment Supplies for producing high quality raw materials.
NSS, LLC is a leading manufacturer and distributor of rubber landscaping products and playground safety surfacing products to large retail suppliers and consumers.
Safe Harbor Statement under the Private Securities Litigation Reform Act Of 1995
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.
Updates on the progress, shipments and installation will be posted on our website: www.magnumresources.net
Contact:
Magnum D'Or Resources, Inc., Fort Lauderdale Joseph Glusic, CEO, 305-420-6563 mdor@magnumresources.net
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