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- Company Secures Transitional Financing.
Racine, WI and Clovis, CA. - Pacific Sands, Inc. (OTCBB: PFSD) announced that effective today, Stanley Paulus, who has served as Pacific Sands’ CEO since its inception and president since 2000, has stepped down in order to pursue other business opportunities. Mr. Paulus will continue to work with the company and serve on the board temporarily during the transitional period. Mr. Paulus’ stock in the company has been placed in escrow pending the completion of the transition period.
Effective today, the Board of Directors of Pacific Sands has appointed Michael L. Wynhoff (39) as President and CEO of the company. Mr. Wynhoff has acted as a marketing consultant for Pacific Sands and other health, environment and internet companies. Mr. Wynhoff will also serve on the company board of directors.
Effective today, Rita Paulus has stepped down as director and company Treasurer. Mrs. Paulus has retired all outstanding debt owed her.
Mr. Harold Dahl has also stepped down as a Director of the company. The company has no current financial obligations to Mr. Dahl.
Effective today, Michael Michie (43) has accepted an appointment to the Pacific Sands Board of Directors.
In a deal memo penned by Mr. Wynhoff, the transition outlined above has been financed by private investors who have also caused to be purchased on behalf of the company, substantially all of the holdings of two major shareholders.
The company will also be moving its main offices to Racine, WI. Mr. Wynhoff stated that more company news will be available shortly.
Safe Harbor Act Disclaimer:
CONTACT: Pacific Sands, Inc. (OTCBB: PFSD)
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts but are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.
Investor Relations: JT Ploch
608-577-6482
Email: pacificsandsir@charter.net
Web site: http://www.pacificsandsinc.com/