DESTIN, FL / ACCESSWIRE / May 12, 2020 / Duke Mountain Resources Inc. (OTC PINK:DKMR) has announced that the Xtreme Fighting Championships (“XFC”) Board of Directors have approved retirement of 170,000,000 shares of Common Stock held by its majority shareholder Steve Smith. Smith, Chairman and CEO of XFC, was provided the shares of common stock when he took over DKMR but now has decided to shrink the company’s market cap.
Smith, said “I believe that by reducing the number of shares outstanding, we will provide a more realistic view to the market of XFC’s market cap valuation. We owe our investors and the market complete transparency,” Smith said.
XFC’s market cap was previously at $177,744,000 with over 222,180,000 shares issued and outstanding. The retirement of the 170,000,000 will bring XFC’s market cap to approximately $52,180,000. An amount Smith believe is more in line with today’s market.
XFC has a new website at XFCMMA.net and will be announcing new broadcast partners in the coming weeks. News will also be announced on our social media channels, such as our 440,000 fans on Facebook https://www.facebook.com/OfficialXFC/ and robust XFC-XFC International YouTube channel.
About the Company
Duke Mountain Resources Inc. (OTC: DKMR) became a primary investor in the sports entertainment market of mixed martial arts. As the lead investor of Xtreme Fighting Championships, Inc.(“XFC”), DKMR became XFC and is a premier international mixed martial arts (“MMA”) organization with offices throughout the United States and South America. The Xtreme Fighting Championships (XFC) is the only publicly traded independent mixed martial arts (MMA) organization in the world. XFC partnered with one of the largest open television broadcasters in Latin America – Rede TV! as well as HBO, ESPN, Esportes Interativo, Terra TV (the largest internet portal in the world), and UOL – the largest internet portal in Latin America, and premium cable & satellite television network. More announcements of broadcast partners in the USA and Europe will be provided in June, 2020. The XFC has had over 185 exclusively signed fighters, representing over 35+ countries worldwide with even more growth expected. Boasting the signing of The Next Generation of Male & Female Superstars, the XFC is known for entertaining fans with the most action-packed MMA events on television and stadium venues. The Next Generation of MMA.
SOURCE: Duke Mountain Resources, Inc.
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