Dhanoa Minerals Clarification of June 26th Press Release.TORONTO -- Lee Balak, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Dhanoa Minerals, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DHNA DHNA Dublin Historic Neighborhood Association (Dublin, Georgia, USA) )(FWB (Fixed Wireless Broadband) See fixed wireless. :D7Z), announced that as a result of the company's latest round of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. of US$ 2.5 Million the company has successfully closed on its three producing mines in the Bella Rica region of Ecuador. Additionally, the company has now taken possession of its refinery and mining processing plant, the "Spanish Plant." "The official closing of the recent round of financing occurred and has enabled us to completely close and record the acquisitions of all three of our mines and the 'Spanish Plant'," said Mr. Balak, President of Dhanoa Minerals. Mr. Balak continued, "We are now extremely focused on the modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, efforts that have been underway and are now in full gear. We are also moving into phase 2 of our expansion program, seeking additional acquisitions, which are geographically beneficial to the company and are in line with the accelerated growth strategy of the company. Many of the richest veins on our property continue onto adjacent properties that have not been mined yet, which gives us a golden opportunity to expand into areas with potential reserves and further acquisitions directly adjacent to us. "For clarity, we decided to delay our applying for a listing on the TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension , which we were in the process of carrying out, in order to raise additional working capital through a secondary offering until the Board of Directors decided it was in the best interest of the company to complete all of our current modernization efforts prior to seeking such listing." About Dhanoa Minerals Ltd. 'Dhanoa' is a production stage company formed to acquire, explore, and develop natural resource properties. Activities include further development of the Company's business plan and raising capital. The Company has recently initiated a new program to evaluate undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. assets for potential addition to its mineral claim portfolio. Forward Looking Statements Statements contained in this news release, not facts, are forward looking statements that involve risks and uncertainties. Actual results may differ materially from any forward looking statements due to risk factors which include, no operating history, no earnings, reliance on the Company's management, the ability to implement the Company's business plan, the ability to fund the Company's business strategy, competition and general economic conditions. |
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