SOURCE: DynaResource, Inc.
IRVING, TX--(Marketwired - Jan 29, 2014) - DynaResource, Inc. (OTCQB: DYNR) "DynaUSA" and the "Company" announce the appointment of Mr. David S. Hall, CPA to the position of Executive Vice-President and Chief Financial Officer of DynaUSA. Mr. Hall was formerly the owner and CEO of the Hall Group CPA's, a certified public accounting and auditing firm in Dallas, Texas, which served as the public auditing firm for DynaUSA since 2004. In order to accept the appointment with DynaUSA, Mr. Hall has resigned from and has disassociated himself from the Hall Group firm. In addition, Mr. Hall has contributed the sum of $250,000 USD to DynaUSA as a subscriber to the Company's Series B preferred share offering to shareholders and associates. Mr. Hall's appointment as Vice President-CFO is expected to commence April 1, 2014.
Mr. Charles E. Smith, current CFO of DynaUSA, will remain with the Company as corporate secretary, and a member of the Company's Board of Directors.
Mr. K.D. Diepholz, Chairman-CEO of DynaUSA said: "I am pleased to announce the appointment of Mr. Hall to this important position with our Company. Dave's previous experience working with the Company as CEO of the Auditing Firm will enable him to make a seamless transition into the Company as CFO. I am looking forward to working with Dave as Company management continues to work diligently to build the DynaResource enterprise".
Mr. Hall said: "As an outside Public Auditor with over thirty years experience in accounting, I have been afforded an in-depth view of numerous businesses, organizations and management teams. With that said, I am more excited today than at any time in my career to have the opportunity to join the management team of DynaResource, Inc. Mr. Diepholz has assembled a dynamic team of professional executives and principled individuals which I am proud to join. And, I see an opportunity for substantial growth within DynaUSA and its subsidiaries for which I am excited and highly motivated to participate. I look forward to working with Mr. Diepholz and his team, and I expect to contribute in every way possible in order to assist the Company to realize its goals. I thank Mr. Diepholz for his confidence and for providing this opportunity to me to join DynaUSA."
DynaResource Management Team
In a prior news release dated May 15, 2013, the Company announced: (1) the promotion of Dr. Jose Vargas Lugo to the position of President of México Operations; and, (2) the appointment of Mr. Keith W. Brogoitti to the position of Vice-President of México Operations.
In a prior news release dated September 19, 2013, DynaUSA announced the appointment of Mr. Chad Mooney to the position of Executive Vice President-Capital Markets.
On behalf of the Board of Directors of DynaUSA,
K.D. DIEPHOLZ; DynaResource, Inc; Chairman and CEO
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an "OTC Reporting Issuer" as that term is defined in BC Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by the British Columbia Securities Commission. Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are "forward-looking information". These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company's plans at the San Jose de Gracia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.