Dhanoa Minerals Undergoes Reverse Stock Split, Name Change, and Receives Financing of $65 Million From AGS Capital Group
RENO, Nev., Jan. 31, 2012 /PRNewswire/ -- Dhanoa Minerals, Ltd.
(Kurzel: D7Z) , as a part of its management and financial restructuring, will undergo a 20-to-1 Reverse Stock Split. The Board of Directors, according to CFO Fred Schiemann, authorized the move as part of its financial reorganization of the company to restructure its stock and capitalization in order to facilitate new business activities and credit arrangements.Chief Operating Officer and Board Director, Henry Manayan reported the Board also voted for a name change of the company to 'DISCOVERY MINERALS, LTD.' The name change will be phased in over the next few weeks.
Dhanoa Minerals, Ltd. confirms it has now received a $65,000,000 Reserve Equity Financing (REF) from AGS Capital Group, LLC, a New York-based investor group. This morning, CEO Russell Smith executed the Agreement which secured the financing.
The REF is a long-term, strategic financing partnership that places Dhanoa Minerals, Ltd. in control of how and when it raises equity, minimizing any potential dilution or disruption to its capital structure. Dhanoa Minerals has the discretion to periodically sell common shares when the prices are deemed attractive to them. The company decides when the funds are raised and how the funds are utilized.
According to CEO Smith, 'Having AGS Capital Group as a long-term partner helps Dhanoa Minerals reduce financing uncertainty so it can better focus on achieving its business objectives.'
'We are excited to be working with the experienced management team at Dhanoa as we believe Dhanoa has significant upside value,' said Allen Silberstein, Chief Investment Officer of AGS Capital Group.
About Dhanoa Minerals, Ltd.:
Dhanoa Minerals, Ltd.
(Kurzel: D7Z) is a production stage 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
Telephone: 1.408.656.0143
http://www.dhanoaminerals.com
About AGS Capital Group, LLC
AGS Capital Group provides flexible equity financing solutions for growing and mature public companies as well as private companies looking to go public. With offices in New York, Hong Kong and India, AGS Capital Group facilitates the growth of companies in the U.S. and in foreign markets around the globe. AGS Capital Group invests in public companies listed on most exchanges and performs fundamental analysis including credit risk, technical analysis of market trends and industry, evaluation of management team experience and corporate structure evaluation. More information: www.agscapitalgroup.com
Dhanoa Minerals, Ltd.
Web site: http://www.dhanoaminerals.com/
