posted
Dhanoa Minerals President and CEO Increases Personal Investment in Company's Latest Round of Financing Lee Balak, Dhanoa Minerals President and CEO, Invests $1,250,000; Confirming Confidence That the Company is Ahead of Scheduled Growth Jun 22, 2007 4:23:00 AM Copyright Business Wire 2007 TORONTO--(BUSINESS WIRE)--
Lee Balak, President and CEO of Dhanoa Minerals, Ltd. (OTCBB:DHNA)(FWB:D7Z), announced that he has personally participated in the company's latest round of equity financing of US$ 2.5 Million by providing $1,250,000, which is half of the funds raised.
Mr. Balak disclosed his intentions to increase his holdings to the Board, in order to avoid any appearance of conflict of interest. The Board expressly waived any such conflict, and approved the transaction.
Mr. Balak stated, "I believe that the greatest expression of my confidence in Dhanoa Minerals is the fact that I am willing to invest my personal funds into the company as a shareholder. I see progress on a daily basis, and believe that in the near future the current round of invested funds will generate significant returns.
"We have experienced greater than anticipated progress in all aspects of the gold and silver production. We finalized the acquisition of the Spanish Plant. We implemented new security procedures. We installed additional cameras. We posted security on a 24/7 basis. We began the re-processing of tailings.
"While the company's first year revenue estimates of $ 80 million are on target, I believe we can do better," said Mr. Balak. "In my opinion, this is the best investment that I could ever make."
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
