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Gold/Mining/Energy : CMYN -- Ignore unavailable to you. Want to Upgrade?

To: Dave Johnson who wrote (775)	11/6/1998 2:57:00 PM
From: ROY SENDELE	Read Replies (1) \| Respond to of 811

Casmyn Corp. Announces the Undertaking of a Business Review And Election of New President and Chief Executive Officer SPARKS, Nev., Nov. 5 /PRNewswire/ -- Casmyn Corp. (OTC Bulletin Board: CMYN - news) announced today that management and the Board of Directors are in the process of reviewing and evaluating the existing capital structure and the Company's business operations with the objective of maximizing value for all the Company's equity holders. In this connection, the Company has engaged Kibel, Green, Issa, Inc., management consultants. As soon as the review has been completed, further information concerning the Company's capital structure and future direction will be made available to the Company's shareholders and investment community. The Company also announced the election of Mark S. Zucker as President and Chief Executive Officer effective October 1, 1998 replacing Amyn Dahya who has resigned to focus his efforts on WaterPur International, Inc. Mr. Dahya will serve as a consultant to the Company and will continue as a director. Mr. Zucker, a Chartered Financial Analyst, manages Anvil Investors, Inc., an investment advisory firm. He has experience in corporate finance and work-out investments. The Company also confirmed that the Board of Directors currently consists of Messrs. Zucker and Dahya, Selwyn Kossuth, who remains as a director, Alexander Cappello, Divo Milan and John Francis. Mr. Cappello is the. Chairman and Chief Executive Officer of the Cappello Group, Inc., a boutique merchant banking company. Mr. Milan is a merchant banker located in Mexico City. Mr. Francis, a Chartered Financial Analyst, is a portfolio manager at Strome, Susskind Investment Management, an investment advisory firm. Finally, the Company announced the repurchase of 198,112 shares of the Company's First Convertible Preferred Stock with a $25 per share Liquidation Preference for an aggregate purchase price of $314,206.64. After this repurchase, 926,785 preferred shares remain outstanding. SOURCE: Casmyn Corp.