LEXINGTON, Ky., Oct. 5 /PRNewswire/ -- Daugherty Resources (Nasdaq: NGAS)
has retained Schneider Securities, Inc., a Denver, Colorado-based registered
broker dealer to provide consulting services related to corporate finance and
investment banking matters.
Schneider will assist Daugherty Resources in its evaluation of financial
matters and advise the Company with regard to stockholder relations and public
relations matters. In addition, Schneider intends to initiate research
coverage of Daugherty Resources.
"We are excited to have a brokerage firm with the talent of Schneider
Securities provide us with these valuable and necessary services," stated
Daugherty Resources Chairman, William S. Daugherty. "During this exciting
time in the natural gas industry, we believe that Schneider's services will
help us gain the attention of the market place and assist us in obtaining the
capital necessary to take full advantage of available opportunities to expand
and grow the Company."
The Company has agreed to pay Schneider a fee of $80,000 payable during
the two-year term of the agreement and warrants to purchase up to 350,000
shares of the Company's common stock at exercise prices ranging from $3.00 to
$4.50 per share.
Schneider Securities, founded in 1985, is a full service brokerage firm
offering a wide array of investment-related products and services. Schneider
has 25 offices located across the United States.
Based in Lexington, Kentucky, Daugherty Resources is a natural resources
development company with interests in oil and gas development and gold mining
prospects. Additional information can be accessed on the Company's website at
http://www.daughertyresources.com .
The information in this release includes certain forward-looking
statements that are based on assumptions that in the future may prove not to
have been accurate. Those statements, and Daugherty Resources and its
subsidiaries are subject to a number of risks, including production variances
from expectations, volatility of product prices, the capital expenditures
required to fund its operations, environmental risks, competition, government
regulation, and the ability of the Company to implement its business strategy.
These and other risks are described in the Company's documents and reports
that are available from the Company and the United States Securities and
Exchange Commission.
SOURCE Daugherty Resources, Inc.
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Related links:
http://www.daughertyresources.com
CONTACT:
William S. Daugherty, President of Daugherty
Resources, Inc., 859-263-3948, or fax, 859-263-4228, or e-mail,
ngas@daughertyresources.com
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