OIL CITY, La., Oct. 11, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) is pleased to announce today that OMDA has dismissed its lawsuit against the company and has dropped all allegations against Black Dragon Resource Companies, Inc. In this dismissal, each company is holding each other harmless. This will alleviate any confusion regarding Black Dragon Resource Companies, Inc.'s assets.
Management would like to reiterate the company is not going to reverse split its stock. Management also stated that today's share price is not indicative of the intrinsic value of Black Dragon Resource Companies, Inc.'s assets. Management looks forward to releasing shareholder updates shortly, which will further clarify recent company activities.
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT: Black Dragon Resource Companies, Inc. Brian Holden 913-226-3818