ATLANTA, GA / ACCESSWIRE / July 10 2014 / Dutch Gold Resources, Inc. (DGRI.OTC) (the "Company") (http://dutchgoldinc.com) today announced that its’ subsidiary, Ascendant Analytics, Inc. (AAI), has acquired certain technology that will speed the development of its previously announced potency test kit for consumers.
AAI has acquired Provisional Patent 61/977,514 from Tetra Micro Labs, Inc. for cash and the Company will issue 25 million shares of restricted common stock. The acquisition of the technology shortens the development schedule for the test kit, allowing the Company to deliver products to consumers on its previously announced timeline.
The Company intends to begin building a distribution network beginning later this month, and has begun the process of distributer identification, qualification and selection. AAI will also launch a direct to consumer initiative later this quarter.
Daniel Hollis, CEO of Dutch Gold Resources, Inc., commented, "Our overall strategy is providing us with a pipeline of interesting business opportunities in the MMJ sector. We are pleased to have found a technology that will speed our time-to-market on the consumer test kit. Further, we are pleased to be able to facilitate this transaction, in part, using restricted common stock. The sellers of the technology believe that the sector can show significant growth and elected to take part of their consideration in stock. We appreciate their confidence in the Company. We believe that there will be other such opportunities to judiciously use our shares."
The near term focus of the Company is to introduce quality products offerings into the MMJ sector that can drive value for retailers, consumers, while generating revenue and potential earnings for shareholders. The Company continues to make progress in other business sectors and will further update shareholders in the coming weeks.
An 8K covering the details of this transaction will be filed with the Securities and Exchange Commission.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
For further information, please see www.DutchGoldInc.com or please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at 404-981-7424.
SOURCE: Dutch Gold Resources, Inc.