Tao Minerals Announces Share Purchase By Company CEO
Tao Minerals, Ltd. (OTCBB: TAOL) announced today that James Sikora, Tao’s CEO and largest shareholder, has purchased, on the open market, 1,000,000 shares of Tao common stock to add to his previously existing share ownership position.
Commenting on his purchase, Mr. Sikora stated, “Although I am already Tao’s largest shareholder, it is my opinion that the company’s shares are, at present, significantly undervalued by the market and have added to my position as an expression of my confidence in Tao Minerals, Ltd. and its excellent prospects for near term profitability. More specifically, this purchase is evidence of my knowledge of, and enthusiasm for, the high quality of Tao’s landholdings. Furthermore, I am extremely excited about the significant progress we have made, and are currently making toward the start-up of mining operations, in the very near term, at our El Colmillo Gold Mine property.”
Mr. Sikora has also noted that he has not sold any portion of his original share ownership position and would not preclude the possibility of his purchase of additional shares going forward.
About Tao Minerals, Ltd.
Tao Minerals (OTCBB: TAOL) is a junior exploration company based in Medellin, Colombia. Tao is successfully positioning itself as a leader in gold exploration in Colombia through key acquisitions of properties with exceptional potential for low extraction cost deposits. Tao’s focus in calendar 2008 is on the upgrading and initiation of operations of its El Colmillo mine, which offers the potential to quickly provide a strong revenue stream, able to fund exploration activities on the estimated high grade gold deposit of its Golondrina property and finance additional acquisitions, while greatly enhancing shareholder value.
Notice Regarding Forward-Looking Statements
This current report contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, making the required payments to Agrominas De Colombia, LTDA for the completion of the acquisition of the interest in the El Comillo mine, completion of the Phase 1 mine upgrade program, and the anticipated expenses and capital costs associated with the reactivation plan.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact Info: Shawn Van Damme Tao Minerals Investor Relations 1-877-512-1120 Svd@Taomining.com
SOURCE: Tao Minerals, Ltd.