Post by liquidator on Mar 20, 2006 17:06:41 GMT -5
CMKM Diamonds Task Force Provides Corporate Update
LAS VEGAS--(BUSINESS WIRE)--March 20, 2006--The CMKM Diamonds Inc. Task Force today announced an update to the CMKM stockholders by disclosing the following information:
This update is intended to provide information relating to: (1) the status of any additional time for which stockholders will be able to obtain their certificates prior to the establishment of an official distribution list for the distribution of the 45 million Entourage shares currently held in trust by the Stoecklein Law Group; (2) a formal notice to stockholders; and (3) the status of any communications with the DTC and various brokerage firms.
On Feb. 17, 2006, the Task Force stated, "In order to be considered a bonafide stockholder of CMKM, a physical stock certificate issued in his/her/its name will need to be presented to the Task Force for confirmation on or before the extended date of March 15, 2006 or as further extended in the sole discretion of the Task Force. It is unlikely that this date will be extended again, unless to provide sufficient opportunity for CMKM Stockholders to obtain their certificates from brokerage houses, the DTC, and the Transfer Agent." As a result of numerous communications between the Frizzell Law Firm and the DTC, several brokerage firms, and a number of stockholders who have indicated they have not received their certificates from their brokerage firms, and in light of the proposed notice to stockholders described below, the Task Force is providing until 5 p.m. Pacific Standard Time on May 15, 2006, for the authentication of certificate ownership. In addition, the additional time will provide all regulatory agencies sufficient time to provide notice to the Task Force as to any irregularity or issue in the proposed method of distribution.
There has been considerable burden and expense in determining the most efficient method by which stockholders should be notified. Several lists have been obtained from the CMKM Transfer Agent and the ADP (NOBO/OBO) lists, all of which reflect stockholders of CMKM. It is imperative the Task Force use all reasonable efforts to notify the CMKM stockholders and provide sufficient time for each stockholder to obtain and communicate ownership of their share certificate(s) to the Task Force. The Task Force is preparing to provide written notice to CMKM stockholders pursuant to Section 78.370 of the Nevada Revised Statutes, thus the reason for the supplementary time referenced above. Further, the Task Force plans to print a notice to stockholders in at least one national U.S. newspaper. The Task Force is sensitive to the fact this delay may bother some stockholders who have complied with the previous authentication date; however, it is the collective reasoning of all concerned that the mandate of the Task Force be upheld, that being "to assist the stockholders of CMKM in obtaining a distribution of the assets of CMKM." The Task Force is grateful to Urban Casavant for continuing to personally pay the expenses associated with this distribution, including the extensive notification campaign, and the undying commitment of the Frizzell Law Firm in managing the certificate authentication campaign.
It is imperative CMKM stockholders understand none of the Task Force members (Robert A. Maheu, Bill Frizzell and Donald Stoecklein), or their respective firms, is employed by or works for CMKM Diamonds Inc. or Casavant. The Task Force has been notified of CMKM's engagement of John T. Moran III, of Las Vegas, as its new corporate legal counsel.
The Task Force has confirmed Casavant and his immediate family have voluntarily chosen not to participate in the distribution in recognition of Casavant's commitment to the CMKM stockholders. The shares marked for distribution to these individuals will remain in the pool of shares and distributed to the remaining stockholders on a pro rata basis.
As a reminder, certificates are only being utilized to verify entitlement to a percentage of the distribution of CMKM assets, primarily consisting, at this time, of the Entourage stock. Stockholders will retain their CMKM shares upon completion of the verification process and continue to be owners of CMKM. Neither the Task Force, nor any member, is involved or plans to be involved in the continued operation of CMKM post distribution of the Entourage stock. At this time it is not possible to estimate how long the verification process will take or if the May 15, 2006, date will need to be lengthened. Any stockholder who cannot produce a certificate or does not desire receipt of a distribution will not receive a distribution of Entourage shares or other CMKM assets. Any assets available for distribution will be proportionately distributed to those stockholders who have complied with the certificate verification process.
The Task Force continues to receive notice of significant rumors pertaining to the receipt of funds and erroneous agreements reached with brokerage firms short in CMKM's stock. Other than the funds received from Casavant to pay for certain of the costs associated with the Task Force's operations, there have been no funds received from brokers/dealers or any other sources. However, Frizzell has been in communication with firms as to issues pertaining to the inability to produce CMKM stock.
The Task Force has established a fax line (903-595-5394) where all CMKM stockholders can fax a copy of their certificates to be matched to a certified stockholder list. In addition, the Task Force has established a Web site, www.cmkmtaskforce.com, for posting of corporate updates and other relevant information as and when it becomes available. For information on Entourage, you are directed to their Web site at www.entouragemining.com.
The information contained in this release is accurate to the best of the Task Force's abilities as of the date set forth above. The Task Force cannot provide any assurance that material aspects of this release will not be altered by events beyond its control or information or facts unknown at this time. The Task Force undertakes no obligation to revise or update the statements made in this release to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts
CMKM Diamonds Inc., Las Vegas
Investor Relations
702-966-6328
LAS VEGAS--(BUSINESS WIRE)--March 20, 2006--The CMKM Diamonds Inc. Task Force today announced an update to the CMKM stockholders by disclosing the following information:
This update is intended to provide information relating to: (1) the status of any additional time for which stockholders will be able to obtain their certificates prior to the establishment of an official distribution list for the distribution of the 45 million Entourage shares currently held in trust by the Stoecklein Law Group; (2) a formal notice to stockholders; and (3) the status of any communications with the DTC and various brokerage firms.
On Feb. 17, 2006, the Task Force stated, "In order to be considered a bonafide stockholder of CMKM, a physical stock certificate issued in his/her/its name will need to be presented to the Task Force for confirmation on or before the extended date of March 15, 2006 or as further extended in the sole discretion of the Task Force. It is unlikely that this date will be extended again, unless to provide sufficient opportunity for CMKM Stockholders to obtain their certificates from brokerage houses, the DTC, and the Transfer Agent." As a result of numerous communications between the Frizzell Law Firm and the DTC, several brokerage firms, and a number of stockholders who have indicated they have not received their certificates from their brokerage firms, and in light of the proposed notice to stockholders described below, the Task Force is providing until 5 p.m. Pacific Standard Time on May 15, 2006, for the authentication of certificate ownership. In addition, the additional time will provide all regulatory agencies sufficient time to provide notice to the Task Force as to any irregularity or issue in the proposed method of distribution.
There has been considerable burden and expense in determining the most efficient method by which stockholders should be notified. Several lists have been obtained from the CMKM Transfer Agent and the ADP (NOBO/OBO) lists, all of which reflect stockholders of CMKM. It is imperative the Task Force use all reasonable efforts to notify the CMKM stockholders and provide sufficient time for each stockholder to obtain and communicate ownership of their share certificate(s) to the Task Force. The Task Force is preparing to provide written notice to CMKM stockholders pursuant to Section 78.370 of the Nevada Revised Statutes, thus the reason for the supplementary time referenced above. Further, the Task Force plans to print a notice to stockholders in at least one national U.S. newspaper. The Task Force is sensitive to the fact this delay may bother some stockholders who have complied with the previous authentication date; however, it is the collective reasoning of all concerned that the mandate of the Task Force be upheld, that being "to assist the stockholders of CMKM in obtaining a distribution of the assets of CMKM." The Task Force is grateful to Urban Casavant for continuing to personally pay the expenses associated with this distribution, including the extensive notification campaign, and the undying commitment of the Frizzell Law Firm in managing the certificate authentication campaign.
It is imperative CMKM stockholders understand none of the Task Force members (Robert A. Maheu, Bill Frizzell and Donald Stoecklein), or their respective firms, is employed by or works for CMKM Diamonds Inc. or Casavant. The Task Force has been notified of CMKM's engagement of John T. Moran III, of Las Vegas, as its new corporate legal counsel.
The Task Force has confirmed Casavant and his immediate family have voluntarily chosen not to participate in the distribution in recognition of Casavant's commitment to the CMKM stockholders. The shares marked for distribution to these individuals will remain in the pool of shares and distributed to the remaining stockholders on a pro rata basis.
As a reminder, certificates are only being utilized to verify entitlement to a percentage of the distribution of CMKM assets, primarily consisting, at this time, of the Entourage stock. Stockholders will retain their CMKM shares upon completion of the verification process and continue to be owners of CMKM. Neither the Task Force, nor any member, is involved or plans to be involved in the continued operation of CMKM post distribution of the Entourage stock. At this time it is not possible to estimate how long the verification process will take or if the May 15, 2006, date will need to be lengthened. Any stockholder who cannot produce a certificate or does not desire receipt of a distribution will not receive a distribution of Entourage shares or other CMKM assets. Any assets available for distribution will be proportionately distributed to those stockholders who have complied with the certificate verification process.
The Task Force continues to receive notice of significant rumors pertaining to the receipt of funds and erroneous agreements reached with brokerage firms short in CMKM's stock. Other than the funds received from Casavant to pay for certain of the costs associated with the Task Force's operations, there have been no funds received from brokers/dealers or any other sources. However, Frizzell has been in communication with firms as to issues pertaining to the inability to produce CMKM stock.
The Task Force has established a fax line (903-595-5394) where all CMKM stockholders can fax a copy of their certificates to be matched to a certified stockholder list. In addition, the Task Force has established a Web site, www.cmkmtaskforce.com, for posting of corporate updates and other relevant information as and when it becomes available. For information on Entourage, you are directed to their Web site at www.entouragemining.com.
The information contained in this release is accurate to the best of the Task Force's abilities as of the date set forth above. The Task Force cannot provide any assurance that material aspects of this release will not be altered by events beyond its control or information or facts unknown at this time. The Task Force undertakes no obligation to revise or update the statements made in this release to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts
CMKM Diamonds Inc., Las Vegas
Investor Relations
702-966-6328