Dhanoa Minerals Ltd. Announces The Appointment Of Two Directors To The Company
Fred Schiemann and Russell Smith were appointed to the corporation.
- (1888PressRelease) September 24, 2011 - The Board of Directors of Dhanoa Minerals is pleased to announce that at a meeting recently held two new Directors, Fred Schiemann and Russell Smith, were appointed to the Corporation. Additionally, Russell Smith was voted to the position of CEO and President of the Company and Fred Schiemann was voted to the positions of CFO and Secretary/Treasurer. During this meeting, Mr. Lee Balak resigned to pursue other activities, but will remain as an advisor to the Company.
The Company has embarked on a due diligence program of bringing its accounts up to date with its pink sheets listing The Company has extinguished a majority of it's debt, as further described below.
Additionally, the Company is in the process of re-activating itself by the acquisition of new mineral projects in the precious metal arena and certain clean technology. The Company expects that this will be completed by the end of 2011.
To facilitate this reactivation of the Company, a Private Placement fund raising program was initiated to raise $500,000.
The Board of Directors also undertook to extinguish all outstanding amounts due to the previous Officers and Directors of the Company by issuing 250 million common shares of its common stock in full and final settlement of any monies owed.
At this point, the Company has paid all outstanding known creditors and has brought a federal court action against a previous supplier for the dollar value of equipment not delivered and a reasonable amount of interest and damages.
Other clean technology related projects are also being investigated for acquisition by the company to ensure a long term positive cash flow and future profitability for the Company.
About Dhanoa Minerals Ltd.
Dhanoa Minerals Ltd. (Frankfurt WKN: A0LB3X: Kurzel: D7Z, Pinksheets: DHNA) is a production stage company formed to acquire, explore, and develop natural resource properties. Activities include gold production and sales, further development of the Company's business plan and raising capital. The Company has a program to evaluate undervalued assets for potential additions to its mineral claim portfolio. The Company is also expecting to engage in the clean technology area. Lastly, the Company is pursuing all and any business activities that will lead to profitable operations for the Company.
Safe Harbor Statement
This information may contain forward-looking statements and involve risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and Dhanoa's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Dhanoa is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.
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