Wits Basin Announces New
Director,
Dr. Joe Mancuso
Minneapolis, Minnesota, September
28, 2007 �
Wits Basin Precious Minerals Inc.
(OTCBB: WITM) is pleased to announce that Dr.
Joe Mancuso, founder and CEO of CEO Clubs, Inc.
has been appointed to serve as a member of the
Board of Directors.
�We are extremely pleased to add Dr. Mancuso to
our Board of Directors,� stated Stephen D. King,
CEO of Wits Basin. �Not only does he have
tremendous relationships and contacts in the
United States, but he also brings many
government and business relationships from
within the People�s Republic of China. The
recent rapid growth of chapters and members in
the PRC may be a valuable asset to assist our
opportunities in China.� CEO Clubs has more than
5,000 current and past members in the United
States. Current chapter rosters in the PRC now
number nearly 2,000 members.
Dr. Mancuso brings a wealth of knowledge to the
board. He is an accomplished author having
edited or written 24 books and numerous articles
on business-related topics. He has also been
publishing the CEO Clubs� monthly Chief
Executive Officer�s Newsletter since 1978. He is
a proficient speaker, having addressed groups of
up to 2,000 people in over 300 American cities
and 40 foreign countries. Moreover, Dr. Mancuso
has founded seven businesses. He has traveled to
China frequently in the last two years and
brought more than 200 CEOs with him on the
trips. He is a friend of many high-ranking
Chinese CEOs and government leaders.
Dr. Mancuso holds an Electrical Engineering
degree from Worcester Polytechnic Institute (WPI)
in Massachusetts and an MBA from the Harvard
Business School. His doctorate is from Boston
University in Educational Administration. He was
the Chairman of the Management Department at WPI
before launching CEO Clubs. He lives in
Manhattan with his wife and business partner
Karla and their two children. He also has three
married daughters who have given him six
grandchildren.
About CEO
Clubs
CEO Clubs, Inc. (www.ceoclubs.org)
is one of the world�s largest and oldest
non-profit membership associations dedicated to
the continuing education of entrepreneurial
managers. Its members are a worldwide group of
CEOs who run businesses with a sales range of
$2,000,000 to more than $250,000,000 in annual
sales each.
CEO Clubs recently opened a new office tower in
Beijing overlooking
Tiananmen Square.
Click here (http://www.ceoclubs.org/main/china.htm#newhq)to
see a picture of it.
________________________________________________
About Wits Basin Precious Minerals Inc.
We are a minerals
exploration and development company holding
interests in three exploration projects and
currently do not claim to have any mineral
reserves on any project. Our common stock trades
on the Over-the-Counter Bulletin Board under the
symbol �WITM.� To find out more about Wits Basin
Precious Minerals Inc. (OTCBB: WITM) visit our
website at
www.witsbasin.com.
Forward-Looking Statements and Risk Factors
The statements included in
this press release concerning predictions of
economic performance and management�s plans and
objectives constitute forward-looking statements
made pursuant to the safe harbor provisions of
Section 21E of the Securities Exchange Act of
1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. This press
release contains forward-looking statements that
involve risks and uncertainties that could cause
actual results to differ materially. Such
statements are valid only as of today, and we
disclaim any obligation to update this
information. These statements are subject to
known and unknown risks and uncertainties that
may cause actual future experience and results
to differ materially from the statements made.
These statements are based on our current
beliefs and expectations as to such future
outcomes. These risks and uncertainties include,
among others, the Company�s ability to obtain or
maintain regulatory approvals; the Company�s
ability to obtain necessary financing; the
Company�s ability to consummate the Easyknit
merger; the Company�s ability to complete the
various mining project acquisitions in the
People�s Republic of China, which are subject to
execution of final documentation, completion of
due diligence and receipt of necessary
financing; and other risks and uncertainties
described in the Company�s filings from time to
time with the Securities and Exchange Commission
(the �SEC�). The Company disclaims any
obligation to update its forward-looking
statements.
In addition, the exploration for and development
of mineral deposits involves significant
financial risks, which even experience and
knowledge may not eliminate, regardless of the
amount of careful evaluation applied to a
process. While the discovery of a mineral
deposit may result in substantial rewards, few
properties are ultimately developed into
producing mines. Moreover, we cannot make any
estimates regarding probable reserves in
connection with any of our projects and any
estimates relating to possible reserves are
subject to significant risks. Therefore, no
assurance can be given that any size of reserves
or grades of reserves will be realized. If a
discovery is made, the mineral deposit
discovered, assuming recoverable, may differ
from the reserves already discovered and
recovered by others in the same region of the
planned areas of exploration. Further, the cost
of exploration and exploitation can be extensive
and there is no assurance that we will have the
resources necessary or the financing available
to pursue projects we currently hold interests
in or to acquire interests in other mineral
exploration projects that may become available.
The risks we face are numerous and detailed
information regarding these risks may be found
in filings made by us with the Securities and
Exchange Commission, including our most recent
annual report on Form 10-KSB, quarterly reports
on Form 10-QSB and reports on Form 8-K.
This press release does not constitute an offer
to exchange or sell or an offer to exchange or
buy any securities. This document may be deemed
to be solicitation material in respect of the
proposed merger of Wits Basin and Easyknit.
An offer of securities in the United States
pursuant to a business combination transaction
will only be made through a prospectus which is
part of an effective registration statement
filed with the SEC. In connection with the
proposed transaction, Easyknit will file a
registration statement on Form F-4, which will
include a proxy statement of Wits Basin that
also constitutes a prospectus of Easyknit, and
other documents with the SEC. Shareholders of
Wits Basin are encouraged to read the definitive
registration statement on Form F-4 and any other
relevant documents filed or that will be filed
with the SEC, including the definitive proxy
statement/prospectus that will be part of the
definitive registration statement on Form F-4,
as they become available because they contain or
will contain important information about the
proposed merger. The final proxy
statement/prospectus will be mailed to
shareholders of Wits Basin. Investors and
security holders will be able to obtain the
documents free of charge at the SEC�s web site,
www.sec.gov, or from Wits Basin�s Investor
Relations at Lighthouse Communications (866)
739-0390 or
info@lhcom.bz.
Participants in Solicitation
Wits Basin and its directors and executive
officers and other members of management and
employees may be deemed to be participants in
the solicitation of proxies from the
shareholders of Wits Basin in connection with
the proposed merger. Information about the
directors and executive officers of Wits Basin
and their ownership of Wits Basin common stock
is set forth in its Annual Report on Form
10-KSB, as filed with the SEC on April 16, 2007.
Additional information regarding the interests
of such participants may be obtained by reading
the registration statement on Form F-4 and proxy
statement/prospectus when it becomes available. |