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-Dravco Mining Inc signs Letter of Intent with Paradox Basin Resources Corp.

International Resource News-March 9, 2012--Dravco Mining Inc signs Letter of Intent with Paradox Basin Resources Corp(C)1994-2012 ENPublishing - http://www.enpublishing.co.uk

International Resource News - 09 March 2012

Dravco Mining Inc (OTCBB: DVCO), a development-stage company, has signed a Letter of Intent with Paradox Basin Resources Corp.

The Letter of Intent will allow the company to acquire 100 percent of the issued equity securities of Paradox.

According to the deal, the company will issue 36,380,000 restricted shares of common stock to the stockholders of Paradox, pro-rata to their current shareholdings, and issue an aggregate of 4,115,666 warrants to replace existing Paradox warrants in accordance with pre-existing terms and conditions.

[Editorial queries for this story should be sent to irn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com)).END.PUB430>PDMarch 9, 2012>JNINTERNATIONAL RESOURCE NEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:International Resource News (IRN)
Date:Mar 9, 2012
Words:147
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