Universal Apparel Company, a Drake Gold Resources Inc. (DKGR:OTC) subsidiary, is pleased to announce that it is preparing to deliver three containers of merchandise to various wholesalers’ warehouses. The corresponding purchase orders were announced in the early summer of this year via our corporate website. A forty foot container holding 50,000 pieces of t-shirts has arrived in Long Beach Port, CA and has subsequently been released by US Customs and Border Patrol. The other two containers, of which one measures 40 feet contains t-shirts and the other is 20 feet holding long sleeve thermal, has also arrived in Long Beach but still awaiting custom clearance.
Mr. Kabir, director of Drake Gold Resources Inc. (DKGR:OTC), is pleased upon the successful receipt of these containers due to the port congestion at Long Beach that could have resulted in significant delays. Universal Apparel's wholesalers have been eagerly awaiting the merchandise as demand from their end customers remains extremely strong.
On another note, Universal Apparel Company stated that it had entered into late-stage discussions with one of the largest wholesalers in the Midwest via a website update on September 15th. The aforementioned discussions are being finalized with an already agreed upon delivery schedule. Purchase orders will be issued upon Universal Apparel obtaining the necessary funding. The total value of this purchase order should be in excess of $1.6 million.
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