Post by fastwalker on Oct 1, 2004 20:02:45 GMT -5
The Casavant Evolution
A native of Prince Albert, Canada, where he had once been a prison guard, Urban Casavant went on to become an entrepreneur, running the U-Haul business in the central Saskatchewan city. Diamonds soon became the talk of the town in the early 1980's and late 1990's. Mr Casavant then pursued his career further by taking up prospecting and acquiring a rather large land position in the province.
Mr. Casavant acquired most of the land in the Molanosa Arch region, where he knew there was the highest demand at the time, in the midst of the first diamond rush in 1993. During this time, Mr. Casavant sold large parcels of his ground in exchange for cash and stock deals.
By the late half of the 1990's the diamond rush had staggered to a near halt.
Once again in 2000, Mr. Casavant's interest peeked again in the diamond play area when other companies' exploration efforts got new promotional mileage. Staying on top of the game, Mr. Casavant moved in quickly and bought up large land positions, once again. This time the land being in close proximity to key projects in the area.
In September of 2000, Casavant Mining was created through the transformation of Cyber Mark International. Cyber Mark International, trading on OTCBB:CMKI. In the fall of 2000, Cyber Mark entered into an agreement with Mobile Entertainment Inc that would return 1.8 Million USD, to Cyber Mark in gross revenues per year, also a substantial profit from the sale of equipment.
CMKI seeking boards approval for a forward split, in the interest of raising the value for its shareholders. A board meeting was held near the end of Feb, 2001. In March Cyber Mark announced they would proceed with a forward stock split on a 10-1 ratio. The forward split was implemented in August, 2001. Jarvis Entertainment Group Acquires Control Position in Cyber Mark International; Samuel Singal resigns as President and CEO, to be replaced by John Jarvis. Corporate offices and manufacturing facilities of Cyber Mark moved from Canada to Houston, Texas.
Preliminarily, JEG believed there was a problem with the Ex-date or the communication of the Ex-date by Nasdaq; however, JEG was unable to determine the exact fault due to conflicting reports from the aforementioned parties, Nasdaq, NASD, Cyber Mark's transfer agent and legal counsel. Interim Cyber Mark Chairman and CEO John Jarvis had sought the following solution: The stock dividend distribution date would be made August 16, 2001. Jarvis Entertainment Group continued to operate as an entity separate from Cyber Mark for that time.
Ian McIntyre became president and chief executive officer of CMKI in late September, 2001.
About CMKM Diamonds, Inc.
CMKM Diamonds is a Nevada corporation in the business of diamond exploration and mining. The company holds mineral claims for more than 1.4 million acres of land in the Fort a la Corne area of Saskatchewan, Canada.
In November, 2002, Urban Casavant acquired the shell of CyberMark International, a virtual reality and computer gaming company. Using the shell of CyberMark (Symbol: CMKI) and mineral claims that Mr. Casavant, and the Casavant family, had been acquiring over the past 15 years, Casavant Mining Kimberlite International was formed.
In 2003, the company moved from the OTC BB to the pink sheets and changed its symbol to CMKM. During 2003 Casavant Mining Kimberlite International acquired a company that was in the process of mining zinc. However, in order to maintain their focus on diamond exploration Casavant Mining Kimberlite International decided to "spinoff" the zinc division as a separate company. Casavant International Mining was formed and each shareholder of Casavant Mining Kimberlite International was issued a share of the new company for each share of Casavant Mining Kimberlite International that they owned. Originally, the spinoff company was going to merge with Mirador, Inc., a publicly traded company, to make the newly issued shares tradeable. However, plans for the merger have been put on hold indefinitely.
In 2004, exploration and drilling began in the Fort a la Corne region of Saskatchewan, Canada. A kimberlite body, named "Carolyn" after Casavant's wife, was announced near Smeaton, Saskatchewan. Shortly after the drilling program began, the company changed its name to CMKM Diamonds and its symbol to CMKX. Some investors have speculated that the name and symbol change was done to combat naked short selling that may have been occuring on the stock market. Others think that it was done as part of a plan to move the company from the pink sheets and re-list it on the OTC BB. However, since the company is non-reporting it is difficult to know with any certainty what the reasons for the changes are. To date, four core samples have been taken from the Carolyn pipe. The public eagerly awaits the results of these core samples.
