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SOURCE Discovery Minerals LTD.
MARINA DEL REY, Calif., July 14, 2014 /PRNewswire/ -- Discovery Minerals LTD. (OTC Pink: DSCR) (OTC: DSCR) Discovery is pleased to announce that it will finalize a formal joint venture agreement this week with VPR Group.
The hemp planted on July 1 through AB AGRO's hemp license will be the initial raw material used to produce concentrated CBD oil through VPR's proprietary processing and extraction technology.
This proprietary process has the potential to reduce operational costs and increase efficiency of CBD oil extraction, resulting in greater yields and concentrations.
The market price of pharmaceutical CBD oil today is between 20,000 and 30,000 €/kg, (Source: Bio-Based News, May 28, 2014, http://tinyurl.com/cbd-pricingeu).
VPR's initial production focuses on the extraction of concentrated CBD oil for wholesale and retail applications. The production machinery is currently being sourced internationally and in Canada, ultimately to be assembled on a site in close proximity to AB AGRO's harvested hemp. VPR Group anticipates the production facility will be ready for AB AGRO's hemp harvest. Video of the hemp seed planting is available online at http://tinyurl.com/dscr-hemp. Additionally, as weather permits, updated photos and videos will be taken of the hemp crop's growing progress this week, and will be posted to the web site.
About Discovery Minerals LTD.
Discovery Minerals Ltd., (OTC PINKSHEETS: DSCR.PK) is an acquisition and development company that targets natural resource properties through its subsidiaries. These properties fall within two primary channels, precious metals/mining and industrial hemp. Discovery subsidiaries engage in activities that include the cultivation, product development, and distribution of industrial hemp; Gold, silver and precious metals. In addition, the Company is pursuing clean tech and alternative energy investments to be integrated into these business channels.
About VPR Group, Inc.
VPR Group, Inc. focuses on the production and extraction of concentrated CBD oils through a proprietary process for retail and wholesale products.
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.
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