Universal Apparel Company, a Drake Gold Resources Inc. (DKGR:OTC) subsidiary, is pleased to announce that it has received three purchase orders for two containers of t-shirts and one container of pk polo shirts. The combined wholesale value of these three containers is approximately $300,000 with a retail value in excess of $600,000.
Mr. Kabir, director of Drake Gold Resources Inc. (DKGR:OTC), is pleased upon receiving these large, diversified purchase orders. In order to fund these projects, two Letters of Credit have been issued from Sterling Bank of New York, USA and from the Soleil Chartered Bank, Romania. The production of these t-shirts and pk polo shirts will begin immediately in the affiliated factories in Bangladesh with the first shipment expected from Bangladesh around the middle of October, 2014. The second shipment will leave the factories towards the end of October with pk polo shirts expected the end of November, 2014.
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.