Panex Appoints New CEO
22 Octobre 2012 - 3:30PM
Marketwired
Panex Resources Incorporated (the "Company," or "Panex")
(OTCQB:DBGF)(FRANKFURT:D1Q), an exploration stage company, engages
in the acquisition and exploration of mineral properties. The
company intends to explore for commercially viable deposits of base
and precious minerals, such as gold, silver, lead, barium, mercury,
copper, and zinc minerals, as well as bulk commodity minerals, such
as coal, iron, and potash.
As of October 19, 2012, the board of Panex is very pleased to
announce the appointment of Mr. Kovaldas Balciauskas as CEO. Klaus
Eckof will resign as CEO and act as non-executive director for the
Company. Ross Doyle will remain as CFO.
Mr. Balciauskas was active in the mining industry when working
with the U.S. Geological Survey (USGS) in the anthracitic coal
region of Eastern Pennsylvania, USA from 1995. From 2001 Mr.
Balciauskas was working as a commodity trading officer at the
Chicago Board of Trade and then as CEO of KB Futures LLC, a Chicago
based commodity brokerage firm. Since 2007 Mr. Balciauskas has been
COO of Eurotraders AG, a Zug, Switzerland-based asset management
company.
Panex common stock is traded on the OTCQB in the United States
and the Frankfurt Stock Exchange in Germany under the symbols
(OTCQB:DBGF), (Frankfurt:D1Q).
ON BEHALF OF PANEX
Kovaldas "KB" Balciauskas, CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or
anticipate the future, called "forward-looking statements." In some
cases, you can identify forward-looking statements by terminology
such as "may," "will," "should," "could," "expects," "plans,"
"intends," "anticipates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of those terms and other
comparable terminology.
These forward-looking statements appear in a number of places in
this press release and include, but are not limited to, statements
about: our market opportunity; revenue generation; our strategies;
competition; expected activities and expenditures as we pursue our
business plan; the adequacy of our available cash resources; our
ability to acquire properties on commercially viable terms;
challenges to our title to our properties; operating or technical
difficulties in connection with our exploration and development
activities; currency fluctuations; fluctuating market prices for
precious and base metals; the speculative nature of precious and
base metals exploration and development activities; environmental
risks and hazards; governmental regulations; and conduct of
operations in politically and economically less developed areas of
the world.
Many of these contingencies and uncertainties can affect our
actual results and could cause actual results to differ materially
from those expressed or implied in any forward-looking statements
made by, or on behalf of, us. Forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements. Specific reference is made to our most
recent annual report on Form 10KSB and other filings made by us
with the United States Securities and Exchange Commission for more
detailed discussions of the contingencies and uncertainties
enumerated above and the factors underlying the forward-looking
statements. These reports and filings may be inspected and copied
at the Public Reference Room maintained by the U.S. Securities and
Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549.
You can obtain information about operation of the Public Reference
Room by calling the U.S. Securities and Exchange Commission at
1-800-SEC-0330. The U.S. Securities and Exchange Commission also
maintains an Internet site that contains reports, proxy and
information statements, and other information regarding issuers
that file electronically with the U.S. Securities and Exchange
Commission at http://www.sec.gov.
We disclaim any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except to the extent required by
applicable laws.
This press release is for informational purposes only and is not
and should not be construed as an offer to solicit, buy, or sell
any security.
Contacts: Panex Resources Incorporated Kovaldas "KB" Balciauskas
CEO (+41) 7887 96966
Panex Resources (CE) (USOTC:DBGF)
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