Post by bhollenegg on Sept 16, 2007 15:56:43 GMT -5
I like this PR...Urban conveyed the plan...
Also, Urban retired the majority of the shares before changing the stock symbol to CMKX. (reference share count after PR.)
LAS VEGAS--(BUSINESS WIRE)--Jan. 7, 2003
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI) announced today a series of corporate initiatives in advance of the January 15, 2003 majority shareholder meeting to be held in Las Vegas, NV.
First, CMKI is encouraging every shareholder to hold his shares in certificate form and if the shares are held in street name to make sure that he registers the shares in his own name to make sure the shareholder is properly identified in the official shareholder's audit that is being conducted by the Company and its Transfer Agent. The purpose of the audit is to make sure that every shareholder of record is identified for purposes of the CMKI's mandatory share and cash dividend policy. The share and cash dividend policy is explained below in fuller detail.
Second, CMKI will be contacting the broker-dealer and market maker community to request their cooperation in the shareholder audit. In this regard, CMKI has identified the following market-makers who are active in the Company's shares based on information obtained on January 6, 2003 at www.otc.bb.com, as follows:
AGIS Aegis Capital Corp.
BAMM Brokerage America, Inc.
BMAS BMA Securities
BPAT Baird, Patrick & Co., Inc.
CLYN Carlin Equities Corp.
DOMS Domestic Securities, Inc.
FRAN Wm. V. Frankel & Co., Inc.
GNET Globenet Securities, Inc. (1)
GNLN Gunallen Financial, Inc.
GVRC GVR Company LLC
HILL Hill Thompson Magid, L.P.
JEFF Jeffries & Company, Inc.
LTCO Ladenburg, Thalman & Co., Inc.
MAYF May Financial Corporation
MHMY M. H. Meyerson & Co., Inc.
NAIB Global Partners Securities Inc.
NATL National Securities Corporation
NITE Knight Securities, L.P.
PGON Paragon Capital Markets, Inc.
PILL Phillip Louis Trading Corp.
PRGM Program Trading Corp.
PUGS Puglisi & Co.
QUIN Park Financial Group, Inc.
SCHB Schwab Capital Markets, L.P.
SEAB Seabord Securities, Inc.
TDCM T.D. Waterhouse Capital Markets
VFIN Vfinance Investments, Inc.
(1) Globenet Securities, Inc. was an active market maker during part of the trading day on January 6, 2003, but later "excused" itself from market making activities.
Third, CMKI has been informed that majority shareholders plan on holding their shares in certificate form indefinitely if it helps the Company combat "naked short selling". Under a naked short sale, short positions are not declared, shares are not borrowed to cover the short sale, and the shares are sold without delivering the stock to the purchaser. Real shareholder ownership is undermined by naked short sales of stock and failed deliveries of real certificates that artificially inflate ownership and devalue the price of the securities.
Fourth, CMKI, as previously announced, plans on approving at its majority shareholder meeting a mandatory share and cash dividend policy. The share dividend policy reflects the Company's acquisition strategy that identifies undervalued take-over targets in mineral resource and related businesses. The Company is currently evaluating 7 companies each of whom will benefit from new managerial economic assessment, asset appraisals, accounting peer review and legal restructuring.
Fifth, CMKI believes that its shareholders and the targeted company's shareholders will best benefit from a "cross-dividend" policy. For example, if CMKI acquires a new target company in an exchange of shares, CMKI will pay its shareholders a mandatory 8% dividend of the total number of shares exchanged with the new target company. The shareholders of the new target company will be treated with the same fairness and therefore will be entitled to receive a mandatory 8% dividend of the total number of CMKI shares exchanged with the new target company. Since the mining and mineral resources business is highly fragmented, CMKI believes that its acquisition strategy will provide a way to leverage its assets into a larger more diversified portfolio of companies.
Sixth, CMKI believes that its cross-dividend policy will result in share dividends being issued in the 3Q03. The legal audit of its shareholders of record will speed up this process. Further, CMKI has structured its mandatory 10% cash dividend policy (which is based on its net earnings) to benefit those shareholders of record on the declared dividend date.
Seventh, CMKI believes that its acquisition strategy, spearheaded by the Casavant Family, will require the addition of a seasoned management team. Accordingly, the Board of Directors has nominated Jay McFadden to become Vice-Chairman and Chief Executive Officer, David Bending as President and Chief Operation Officer, and Rick Taulli as Secretary. Messrs. McFadden, Bending and Taulli are currently affiliated with Juina Mining Corporation. See www.juinamining.com. The Board of Directors has nominated David DeSorneau as Treasurer. Mr. DeSorneau was previously a consultant to CMKI. See December 3, 2002 Press Release. The nominations will be voted upon by the majority shareholders at the January 15, 2003 meeting.
Eighth, CMKI will be a featured guest on the news talk radio show "Not for Widows and Orphans", hosted by international economist Mike King at Princeton Research, Inc. The radio talk show is broadcast live via the internet every Sunday evening. The talk show schedule is available at www.princetonresearch.com .
FORWARD LOOKING STATEMENTS
This Press Release contains "forward looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). All statements that are included in this Press Release other than statements of historical fact are "forward looking" statements. Although Management believes that the expectations reflecting in these forward looking statements are reasonable. It can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward looking statements contained in this Press Release.
COPYRIGHT 2003 Business Wire
findarticles.com/p/articles/mi_m0EIN/is_2003_Jan_7/ai_96198036
November 2002 Common Shares 7,241,153,404.….Preferred Shares 3000
January 2003 Preferred Shares 3000 cancelled… added 10,000,000,000 Common Shares
……………..Total Common Shares 7,241,153,404 + 10,000,000,000 = 17,241,153,404
April 2003 Urban Casavant locks up his 600,000,000 Common Shares …still maintains voting privileges.
………………Total Common Shares 16,642,153,404
December 2003 Urban Casavant retires 16,520,477,200 Common Shares to the Treasury Department
……………….Total Common Shares 121,176,200 plus Urban’s Lock-up 600,000,000
goliath.ecnext.com/coms2/summary_0199-4010125_ITM
Treasury news link Urban retires the majority of the shares…
Casavant Mining Kimberlite International Announces That the Company Has Officially Retired 16.5 Billion Shares Back to the Treasury.
Publication Date: 17-DEC-03
Casavant Mining Kimberlite International (Pink Sheets: CMKM) announced today that the company has officially retired 16,520,477,200 shares of CMKM stock back to the Treasury.
www.secinfo.com/d123Y7.2d.htm?Find=majority&Line=202#Line202 7,241,653,404 common + 3000 preferred shares cancellation…
Outstanding Voting Stock of the Company
In order to effectuate the merger with the Casavant Mineral Claims, the majority shareholders' holding more than 51% of the voting shares approved an increase in the authorized capital of the Company from 500,000,000 to 10,000,000,000 with the cancellation of all Preferred shares. Prior to this action, the Company had 3,000,000 Preferred shares authorized with 1 Preferred share issued and outstanding. This Preferred share had been purchased by the majority shareholders in 2001 for $235,000 from the Jarvis Entertainment Group, Inc., thereby giving them voting control of the Company.
www.sec.gov/Archives/edgar/data/1092299/000111776803000018/casalock.htm
The lock up…
ITEM 9. REGULATION FD DISCLOSURE
On April 15, 2003, Casavant Mining Kimberlite International, Inc. ("CMKI") entered into an agreement with Urban Casavant, President of the Company, whereby Mr. Casavant agreed to place his shares of CMKI common stock in escrow for a period of three (3) years. During the period of time in which Mr. Casavant's shares are in escrow, Mr. Casavant has agreed not to sell, pledge, or otherwise dispose of any of the shares placed in escrow. However, Mr. Casavant does retain all other rights afforded to him by virtue of owning the shares, including voting rights and rights to dividends and other distributions.Mr. Casavant's shares are being held in escrow by the Law Offices of Thomas C. Cook, Ltd.
Take care,
BHollenegg
Also, Urban retired the majority of the shares before changing the stock symbol to CMKX. (reference share count after PR.)
LAS VEGAS--(BUSINESS WIRE)--Jan. 7, 2003
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI) announced today a series of corporate initiatives in advance of the January 15, 2003 majority shareholder meeting to be held in Las Vegas, NV.
First, CMKI is encouraging every shareholder to hold his shares in certificate form and if the shares are held in street name to make sure that he registers the shares in his own name to make sure the shareholder is properly identified in the official shareholder's audit that is being conducted by the Company and its Transfer Agent. The purpose of the audit is to make sure that every shareholder of record is identified for purposes of the CMKI's mandatory share and cash dividend policy. The share and cash dividend policy is explained below in fuller detail.
Second, CMKI will be contacting the broker-dealer and market maker community to request their cooperation in the shareholder audit. In this regard, CMKI has identified the following market-makers who are active in the Company's shares based on information obtained on January 6, 2003 at www.otc.bb.com, as follows:
AGIS Aegis Capital Corp.
BAMM Brokerage America, Inc.
BMAS BMA Securities
BPAT Baird, Patrick & Co., Inc.
CLYN Carlin Equities Corp.
DOMS Domestic Securities, Inc.
FRAN Wm. V. Frankel & Co., Inc.
GNET Globenet Securities, Inc. (1)
GNLN Gunallen Financial, Inc.
GVRC GVR Company LLC
HILL Hill Thompson Magid, L.P.
JEFF Jeffries & Company, Inc.
LTCO Ladenburg, Thalman & Co., Inc.
MAYF May Financial Corporation
MHMY M. H. Meyerson & Co., Inc.
NAIB Global Partners Securities Inc.
NATL National Securities Corporation
NITE Knight Securities, L.P.
PGON Paragon Capital Markets, Inc.
PILL Phillip Louis Trading Corp.
PRGM Program Trading Corp.
PUGS Puglisi & Co.
QUIN Park Financial Group, Inc.
SCHB Schwab Capital Markets, L.P.
SEAB Seabord Securities, Inc.
TDCM T.D. Waterhouse Capital Markets
VFIN Vfinance Investments, Inc.
(1) Globenet Securities, Inc. was an active market maker during part of the trading day on January 6, 2003, but later "excused" itself from market making activities.
Third, CMKI has been informed that majority shareholders plan on holding their shares in certificate form indefinitely if it helps the Company combat "naked short selling". Under a naked short sale, short positions are not declared, shares are not borrowed to cover the short sale, and the shares are sold without delivering the stock to the purchaser. Real shareholder ownership is undermined by naked short sales of stock and failed deliveries of real certificates that artificially inflate ownership and devalue the price of the securities.
Fourth, CMKI, as previously announced, plans on approving at its majority shareholder meeting a mandatory share and cash dividend policy. The share dividend policy reflects the Company's acquisition strategy that identifies undervalued take-over targets in mineral resource and related businesses. The Company is currently evaluating 7 companies each of whom will benefit from new managerial economic assessment, asset appraisals, accounting peer review and legal restructuring.
Fifth, CMKI believes that its shareholders and the targeted company's shareholders will best benefit from a "cross-dividend" policy. For example, if CMKI acquires a new target company in an exchange of shares, CMKI will pay its shareholders a mandatory 8% dividend of the total number of shares exchanged with the new target company. The shareholders of the new target company will be treated with the same fairness and therefore will be entitled to receive a mandatory 8% dividend of the total number of CMKI shares exchanged with the new target company. Since the mining and mineral resources business is highly fragmented, CMKI believes that its acquisition strategy will provide a way to leverage its assets into a larger more diversified portfolio of companies.
Sixth, CMKI believes that its cross-dividend policy will result in share dividends being issued in the 3Q03. The legal audit of its shareholders of record will speed up this process. Further, CMKI has structured its mandatory 10% cash dividend policy (which is based on its net earnings) to benefit those shareholders of record on the declared dividend date.
Seventh, CMKI believes that its acquisition strategy, spearheaded by the Casavant Family, will require the addition of a seasoned management team. Accordingly, the Board of Directors has nominated Jay McFadden to become Vice-Chairman and Chief Executive Officer, David Bending as President and Chief Operation Officer, and Rick Taulli as Secretary. Messrs. McFadden, Bending and Taulli are currently affiliated with Juina Mining Corporation. See www.juinamining.com. The Board of Directors has nominated David DeSorneau as Treasurer. Mr. DeSorneau was previously a consultant to CMKI. See December 3, 2002 Press Release. The nominations will be voted upon by the majority shareholders at the January 15, 2003 meeting.
Eighth, CMKI will be a featured guest on the news talk radio show "Not for Widows and Orphans", hosted by international economist Mike King at Princeton Research, Inc. The radio talk show is broadcast live via the internet every Sunday evening. The talk show schedule is available at www.princetonresearch.com .
FORWARD LOOKING STATEMENTS
This Press Release contains "forward looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). All statements that are included in this Press Release other than statements of historical fact are "forward looking" statements. Although Management believes that the expectations reflecting in these forward looking statements are reasonable. It can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward looking statements contained in this Press Release.
COPYRIGHT 2003 Business Wire
findarticles.com/p/articles/mi_m0EIN/is_2003_Jan_7/ai_96198036
November 2002 Common Shares 7,241,153,404.….Preferred Shares 3000
January 2003 Preferred Shares 3000 cancelled… added 10,000,000,000 Common Shares
……………..Total Common Shares 7,241,153,404 + 10,000,000,000 = 17,241,153,404
April 2003 Urban Casavant locks up his 600,000,000 Common Shares …still maintains voting privileges.
………………Total Common Shares 16,642,153,404
December 2003 Urban Casavant retires 16,520,477,200 Common Shares to the Treasury Department
……………….Total Common Shares 121,176,200 plus Urban’s Lock-up 600,000,000
goliath.ecnext.com/coms2/summary_0199-4010125_ITM
Treasury news link Urban retires the majority of the shares…
Casavant Mining Kimberlite International Announces That the Company Has Officially Retired 16.5 Billion Shares Back to the Treasury.
Publication Date: 17-DEC-03
Casavant Mining Kimberlite International (Pink Sheets: CMKM) announced today that the company has officially retired 16,520,477,200 shares of CMKM stock back to the Treasury.
www.secinfo.com/d123Y7.2d.htm?Find=majority&Line=202#Line202 7,241,653,404 common + 3000 preferred shares cancellation…
Outstanding Voting Stock of the Company
In order to effectuate the merger with the Casavant Mineral Claims, the majority shareholders' holding more than 51% of the voting shares approved an increase in the authorized capital of the Company from 500,000,000 to 10,000,000,000 with the cancellation of all Preferred shares. Prior to this action, the Company had 3,000,000 Preferred shares authorized with 1 Preferred share issued and outstanding. This Preferred share had been purchased by the majority shareholders in 2001 for $235,000 from the Jarvis Entertainment Group, Inc., thereby giving them voting control of the Company.
www.sec.gov/Archives/edgar/data/1092299/000111776803000018/casalock.htm
The lock up…
ITEM 9. REGULATION FD DISCLOSURE
On April 15, 2003, Casavant Mining Kimberlite International, Inc. ("CMKI") entered into an agreement with Urban Casavant, President of the Company, whereby Mr. Casavant agreed to place his shares of CMKI common stock in escrow for a period of three (3) years. During the period of time in which Mr. Casavant's shares are in escrow, Mr. Casavant has agreed not to sell, pledge, or otherwise dispose of any of the shares placed in escrow. However, Mr. Casavant does retain all other rights afforded to him by virtue of owning the shares, including voting rights and rights to dividends and other distributions.Mr. Casavant's shares are being held in escrow by the Law Offices of Thomas C. Cook, Ltd.
Take care,
BHollenegg
