Universal Apparel Company, a Drake Gold Resources Inc. (DKGR:OTC) subsidiary, is pleased to announce that it has entered into late-stage discussions with one of the largest wholesalers of garments in the Midwest to supply a large quantity of t-shirts for the upcoming spring/summer season. Upon completion of discussions followed by a purchase order, Universal Apparel will supply roughly 1 million pieces of t-shirts, utilizing 15-20 containers load, shipped from our factories in Bangladesh, all within a 12 month period. The first container will be delivered in the middle of November , 2014 followed by between 1 to 3 containers in each subsequent month until the end of fall, 2015. These series of bookings alone will generate a total of approximately $2 million in revenue for Universal Apparel with retail value in excess of $5 million.
M Kabir, director of Drake Gold Resources Inc. (DKGR:OTC) is very pleased with this development and is confident that Universal Apparel will get the contract as it has experience in both the manufacturing and importing of t-shirts incorporating both quality and adherence to wholesalers' strict specifications. In addition, this wholesaler has showed interest in the production of other textiles such as boxer pants, A-shirts, thermals and hoodies.
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.