Daulton Capital Changes Name to Celframe ARX Resources Corp. to Reflect Gold Merger
NEW YORK, June 18, 2012 /PRNewswire/ -- Daulton Capital Corp. (OTCBB: DUCP), a gold and precious metals exploration company, is pleased to announce that in accordance with the terms of the acquisition agreement to acquire the ARX Springs Gold Project, with reports indicating sixteen to eighteen million gold ounces in Australia, it has changed its name to Celframe ARX Resources Corp. under approval by its shareholders and the authorities of the State of Nevada.
Change of name and ticker symbol of the Company is expected within the next month upon final review and approval from FINRA.
Arun Pudur, the President of Daulton Capital and Celframe Group of companies said "With the change of name we will be bringing in all the resources and management skills of the Celframe group to make Celframe ARX Resources Corp a world class and immensely profitable precious minerals company." He added, "In the next few weeks there will be some major developments which will focus on production, funding, hiring and most importantly value add to the share-holders."
"In the last few weeks, our funding team has been tirelessly working with various fund managers and in the next few days we will be announcing some amazing developments. Also we are focused on getting the company to production faster, hire top talent, set up new offices and bring also implement the process and procedures that kept Celframe businesses immensely successful over the years," added Celframe Group CFO, William Wilson.
Brian Smith CEO for Daulton Capital commented, "We are pleased with the acquisition of the existing gold mining project in Queensland Australia, and are renaming the company to reflect its affiliation with the Celframe Group and we are now be seeking to appoint an experienced gold mining executive as Chairman who together with the existing management team will be focusing on the core business of gold production."
ARX Gold Project:
The ARX Springs Gold property is located at Coonambula near Eidsvold in Queensland, Australia, and has gold resources estimated at between 16,000,000 to 18,000,000 (Sixteen to Eighteen Million) ounces of gold and estimated to generated a cash flow of $22 billion over the planned 20 year life of the mine based on current gold prices. Queensland, Australia is well known to be a prolific gold producing State since the 1867 Australian gold rush, several major gold producing companies including BHP, Glencore Xstrata, Rio Tinto, Barrick Gold and Anglo American have been active in the State of Queensland and the area where the ARX Springs gold project is located has an extensive history of gold finds going back to early 1888 in the nearby St. Johns Creek gold fields.
Arun Pudur is the founder of Celframe, a Multi-Billion Dollar Global technology company with offices in the U.S., India & Malaysia. Renowned Businessman Mr. Arun Pudur is the CEO of Celframe Technology Group of Companies since March 2001, and is a widely accomplished and established entrepreneur and investor in the precious minerals and mining industry in Australia, South Africa and other parts of the world. He is a graduate of the University of Bangalore majoring in Business Management.
About Daulton Capital Corporation:
DAULTON CAPITAL CORP. is a natural resource company focused on precious metals. The New Management's corporate philosophy is to be a Share Holder Value creator, with the objective of exploring, acquiring and operating Gold projects in Australia and other countries to generate real value beginning with ARX Springs Gold Project in Queensland, Australia.
Daulton Capital has formed an experienced management team with the ability to take advantage of the tremendous opportunities that are available in the natural resource sector today. Our focus will be to explore, acquire and develop gold resource projects, and continue to invest in expansion of exploration activities and seek opportunistic special situations that can add to our portfolio of assets within the resource sector. www.daultoncapital.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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