Same as CHXThe same people that sold CHX to these folks have sold DNR to them.Only 11 million out on DNR.I am sure good things will also happen with that company. News released last month.
Completion Of $1,300,000 Private Placement And Appointment Of New Board Members And Management Team
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June 14, 2006 - Dynamite Resources Ltd. (TSX-V: DNR) ("Dynamite") is pleased to announce that the $1,300,000 private placement announced April 19, 2006 has been completed. A total of 2,500,000 ordinary units and 2,500,000 flow-through units, each priced at $0.26, were issued pursuant to this private placement.
Each ordinary unit consisted of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share until June 2, 2008, at a price of $0.335. Each flow-through unit consisted of one flow-through common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share until June 2, 2008, also at a price of $0.335. Each of the common shares, the flow-through common shares and any common shares issuable upon the exercise of the share purchase warrants, are subject to a hold period until October 3, 2006.
Changes in Directors and Officers
In conjunction with the closing of this private placement, the following individuals have resigned from the Board and/or as members of Management:
Robert C. Carne -- has resigned as President and as a Director
James M. Stephen -- has resigned as Chief Executive Officer
Alan R. Archer -- has resigned as a Director
Richard A. Graham -- has resigned as a Director
W. Douglas Eaton -- has resigned as Chief Financial Officer and Chief Operating Officer
Glenn R. Yeadon -- has resigned as Corporate Secretary
James M. Stephen and R. Allan Doherty will remain as Directors on an interim basis. The following additional individuals have also been appointed as Directors and/or as Officers of Dynamite:
Stan Bharti, Director - Mr. Bharti has over 25 years of experience in operations, public markets and finance. Over the last ten years Mr. Bharti has been involved in acquiring, restructuring, and financing. Mr. Bharti has raised over $200 million in public markets over the last decade. His experience in public markets includes acquisitions of companies in Europe, Australia and North America. He is a Professional Mining Engineer and holds a Masters Degree in Engineering from
Moscow, Russia and University of London, England.
Doug Bache, Director -- Mr. Bache is President of DHBache & Company Inc., a corporate development and strategy consulting firm serving the mining industry. Mr. Bache, through his company, provides corporate finance and strategic advice to a number of private and publicly traded companies. Since 2000, Mr. Bache held various senior management positions in corporate development and finance with Inco Limited and North American Palladium Ltd. Prior to that, he spent 10 years in corporate finance with CIBC World Markets and SG Canada providing financing and M&A advisory services to global mining companies. Mr. Bache holds a BMath/Business degree from University of Waterloo, Waterloo, Ontario. He is also a business development and strategic advisor to the Faculty of Mathematics, University of Waterloo.
Tony Wonnacott, President, C.E.O., Corporate Secretary and a Director -- Mr. Wonnacott is a Toronto-based corporate lawyer who worked with the Toronto law firm of McMillan Binch LLP from May 1999 to March 2004. Mr. Wonnacott serves as corporate secretary for a number of publicly traded companies, including Alexis Minerals Corporation, Crowflight Minerals Inc. and Consolidated Thompson-Lundmark Gold Mines Limited, all of which are TSX Venture Exchange-listed companies. Mr. Wonnacott obtained a Bachelor of Commerce (cum laude) from St. Mary's University and a Bachelor of Laws degree from Dalhousie University. He has also completed the Canadian Securities Laws Course. Mr. Wonnacott is a member of the Law Society of Upper Canada.
Deborah Battiston, Chief Financial Officer - Ms. Battiston is a C.G.A with over 20 years of financial management and accounting experience. She obtained her B.A. in Economics from the University of Guelph and has substantial experience working with emerging mineral exploration companies. Deborah also has broad international experience having dealt with companies in 8 countries and having lived and worked in Japan for several years.
For further information contact:
Tony Wonnacott
President & C.E.O.
Telephone: (416) 861-5879