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Portland, OR / ACCESSWIRE / October 16, 2014 / Universal Apparel Company, a Drake Gold Resources Inc. (DKGR:OTC) subsidiary, is pleased to announce that it has begun the process of applying for a name and subsequent ticker change with Finra. This will align the current activities and primary focus of Drake Gold Resources Inc. which is on the textile industry with its subsidiary, Universal Apparel Company.
Mr. Kabir, director of Drake Gold Resources Inc. (DKGR:OTC), states the following, "as we move Drake into a new direction , we want to set out both the company's goals and focus. From this point onward, Drake will no longer be concentrating on the resource sector. However, our existing interests in Eagle Oil Holding Company Inc. (EGOH:OTC) and Parker Technologies will remain as an asset. Drake is now an apparel and textile company."
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
SOURCE: Universal Apparel Company