Dhanoa Minerals Terminates Equity Financing Agreement And Cancels Reverse Stock Split
RENO, Nev., July 16, 2012 /PRNewswire/ -- Dhanoa Minerals, Ltd. (OTC Pinksheets: DHNA; Germany: D7Z.F) is pleased to announce that it has reached a settlement agreement and terminated the previously announced equity financing agreement with AGS Capital Group. Dhanoa Minerals did not receive the Equity Financing as previously announced and as a result elected to terminate the agreement and pursue other sources of financing. As part of the settlement agreement all previously issued shares to AGS Capital Group have been returned to the Company and will be retired.
As a result of the cancellation of this agreement, management has elected to cancel the Reverse Stock Split. The Company is still making the name change from Dhanoa Minerals, Ltd. to "DISCOVERY MINERALS, LTD." The name change will become effective as of July 31, 2012.
"We are pleased to be able to move forward with the execution of our business plan and the Company is excited about our 'near production' prospects," stated Russell Smith, CEO, Discovery Minerals.
Discovery Minerals (Dhanoa Minerals) is a U.S.-based metals and minerals exploration and development company focused on projects in North America, particularly in the Western U.S. and California. The Company is led by an experienced board of directors and management team with extensive corporate, exploration, mine development and production operation records in the U.S. and Australia.
About Dhanoa Minerals, Ltd.:
Dhanoa Minerals, Ltd. (Frankfurt WKN: A0LB3X: Kurzel: D7Z, OTC Pinksheets: DHNA) is a precious metals and minerals company formed to acquire and develop natural resource properties. Activities include gold, precious metals and minerals, including rare earth minerals production and sales. The Company has initiated a new program to evaluate undervalued assets, including clean tech and alternative energy investments, for potential addition to its portfolio.
Company Contact Information
Mr. Henry Manayan, Esq., Chief Operating Officer
Dhanoa Minerals, Ltd.
429 West Plumb Lane,
Reno, Nevada 89509
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