MARINA DEL REY, Calif.,
May 13, 2014 /PRNewswire/ --
Discovery Minerals LTD. (OTC PINK: DSCR) (PINKSHEETS: DSCR)
is pleased to announce that Mr. Dennis
Killoran of Wainwright, Alberta,
Canada has agreed to become the Company's Primary Hemp
Growing Consultant. Mr. Killoran is uniquely qualified having
previously cultivated Industrial Hemp under a Health Canada
License.
Mr. Killoran is a third generation farmer. In 1999, Mr. Killoran
was invited to participate with a symposium which helped draft
portions of the Health Canada Regulations. Additionally, Mr.
Killoran has sat on the Local Wainwright Inter-Municipal Planning
Board and was involved in the inception of the Alberta Bio-Fibre
Initiative round table talks with the Alberta Agriculture
Department, the Alberta Research Council, and various private
interest companies. Through 2000-2003, Mr. Killoran cultivated
three hemp crops on farmland ranging from 20 to 140 acres. He
currently grows grain on 3500 acres of his property.
There are several factors that have prompted Mr. Killoran to
re-evaluate the viability of hemp production, some of the main
factors being Discovery's vertical integration model, technological
advances in farming and increased demand for hemp related products
expected to soar due to loosening of regulations in the United States.
Canadian hemp acreage has been growing steadily since 2008,
increasing to 58,000 in 2012. This growth came on the heels of
improving processing technology, research, government financial
support, increasing number of Canadian businesses developing hemp
products and overall growing demand, primarily import demand by
the United States which accounts
for approximately 90% of Canadian international sales. Canada's gross producer hemp seed cash
receipts have been approximately $30-35
million in recent years.
Early estimates are for around 70,000 acres to be planted in
2013 and one industry source indicates a goal of 100,000 acres by
2015. (Canadian Hemp Trade Alliance).
Sales of hemp products to U.S. consumers have reportedly topped
$500 million in recent years, while
U.S. hemp imports continue to grow (Hemp Industry
Association). Industrial hemp could provide economic benefit
and jobs given emerging market opportunities if the industry were
allowed to fully develop as a commercial enterprise.
About Discovery Minerals LTD.:
Discovery Minerals Ltd., (OTC: DSCR) is a production stage
company formed to acquire and develop natural resource properties.
Activities include gold, precious metals and petroleum minerals,
including rare earth minerals production and sales. The Company
initiated a new program to evaluate undervalued assets, including
clean tech and alternative energy investments, for potential
addition to its portfolio.
Safe Harbor: This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 27E of the Securities Act of 1934. Statements
contained in this release that are not historical facts may be
deemed to be forward-looking statements. Investors are cautioned
that forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approval for anticipated actions.
Contact Person:
Russell Smith
+1-310-961-4654
At: info@discoveryholdingscorp.com
SOURCE Discovery Minerals LTD.