DEPI Announces New CFO.Business Editors LANGLEY Lang·ley , Mount A peak, 4,227.9 m (14,026 ft) high, in the Sierra Nevada of southern California. lang·ley n. pl. , B.C.--(BUSINESS WIRE)--Jan. 7, 2002 Duro Enzyme Products Inc. (the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DEPI) is pleased to announce the appointment of David H. Kirske to the position of Chief Financial Officer. Mr. Kirske's addition to the Company is the first step in Duro president Dr. Robert Jackman's mandate to construct a world-class management team. Mr. Kirske brings a highly successful career in finance to Duro. He has been instrumental in bringing companies to the public arena and has repeatedly proven his talents and expertise while in his role as Corporate Controller for F5 NETWORKS, INC., Seattle, WA, an Internet solutions company with revenues of $109-million in 2000; and his role as Corporate Controller and Treasurer for REDHOOK ALE BREWERY The Redhook Ale Brewery NASDAQ: HOOK, headquartered in Seattle, Washington, is a brewer of craft beers, with operations in Woodinville, Washington and Portsmouth, New Hampshire. It was founded in Seattle in 1981 by Paul Shipman and Gordon Bowker. INCORPORATED, with annual revenues of approximately US$40-million. While with F5 NETWORKS, INC., Mr. Kirske was responsible for managing the registration of 2.8 million shares of common stock on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on in the initial public offering, with net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of $25.5 million to the company. In the secondary public offering, he managed registration of 2.2 million shares, with net proceeds of $31.5 million, while overseeing a staff of 20. While with REDHOOK ALE BREWERY, INCORPORATED, Mr. Kirske managed the initial public offering and registration of 2.3 million shares of common stock on NASDAQ, with net proceeds of $30 million. He also participated in the development of the offering prospectus and filing of the Form S-1 with the Security and Exchange Commission. Mr. Kirske participated in the negotiations of the strategic alliance between the Company and Anheuser-Busch, Inc., including due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on an $18 million private placement. He also managed the due diligence process for a $20 million private placement and long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. securities with GE Capital, to fund construction of the brewing brewing: see beer. facility in Woodinville, WA. Forward-Looking and Cautionary Statements Certain statements contained herein, including, without limitation, statements containing the words "believes", "intends" and other words of similar import, constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Duro Enzyme Products Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Duro Enzyme Products Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments. On behalf of the Board of Directors of: DURO ENZYME PRODUCTS INC. Robert L. Jackman, President |
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