Discovery Gold Corporation Secures DTC Eligibility Status
DENVER, Nov. 13, 2012 /PRNewswire/ -- Discovery Gold Corporation (OTCQB: DCGD) ("Discovery Gold" or the "Company") is pleased to announce that, effective immediately, the Company's common shares have been granted eligibility status by the Depository Trust Company (DTC). Trading in securities that are "DTC-eligible" can be electronically cleared and settled through the facilities of DTC. This fully electronic and cost-effective method of clearing securities transactions accelerates the trade settlement process for all investors and the broker/dealers that process trades in DTC-eligible securities.
Discovery Gold's Chief Financial Officer, David Cutler, said, "Electronic trading and settlement is the standard in today's financial markets and our becoming DTC-eligible will greatly simplify the process for all investors trading in Discovery Gold shares. Securities that are not DTC-eligible are often not accepted for trading at many institutions due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to easily access our shares. We expect that our DTC-eligible status will improve our overall share liquidity and share attractiveness."
The Depository Trust Company (DTC), established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by creating a centralized securities depository and making "book-entry" changes to ownership of the securities. The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), the world's largest post-trade financial services company.
About Discovery Gold Corporation
Discovery Gold Corporation is an emerging U.S. based mineral exploration company. The Company's wholly-owned subsidiary, Discovery Gold Ghana Limited, currently holds a 95% interest in the option of the exclusive rights to explore the Edum Banso Gold Project within the historic and prolific gold producing Ashanti Gold Belt in Ghana.
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Forward-Looking Statements/Disclaimer: Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may be identified by the use of words such as "anticipate", "believe", "expect", "may", "will", "would", "should", "plan", "projected", "intend", and similar expressions. The Company bases these forward-looking statements on current expectations and projections about future events, based on information currently available. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company disclaims any obligation to update any of its forward-looking statements, except as may be required by law. The Company's interest in the Edum Banso Gold Project is subject to final Ghanaian government approval of the licence transfer. The Company has no mineral resource or reserve estimate for the Edum Banso Gold Project at this time, has no assurance that it will discover significant mineral resources, and may not have sufficient funding to thoroughly explore, drill or develop its property.
SOURCE Discovery Gold Corporation