ZNext Mining Corporation, Inc (ZNXT)

[potodds]

on hold with etrade right now. just wanted to post the last PR, incase people were wondering.


PASIG CITY, Metro Manila, Philippines, Mar 20, 2006 (BUSINESS WIRE) -- Pearl Asian Mining Industries Inc. (PAIM, Trade) today requested that Shareholders entitled to receive their preferred shares dividend to contact their stockbrokers on March 31, 2006, to request for the issuance of the actual Preferred Share Certificates to be registered in their name(s), and to take delivery of those preferred shares.

The reason for this extraordinary action requested is due to the belief by Pearl Asian that one or more market-makers and others may have shorted PAIM shares without first borrowing shares, creating a large naked short.

The One Thousand (1,000) Preferred Shares Dividend for every one common share of Pearl Asian Mining Industries Inc. (PAIM) held by record shareholders on March 17, 2006, will be paid out on March 31, 2006. Therefore, it is advisable that all the shareholders that bought shares in the open market to notify their stock brokerage firms to request for (1) Actual Certificate of the Dividend, (2) Include the Name of the Beneficiary and (3) Delivery To Shareholders Address on March 31, 2006.

Anyone that bought the company's common shares out of the market before the X-Dividend date, under the symbol PAIM and held those shares until the X-Dividend Date set by NASD as March 15, 2006, are entitled to receive the 1,000 Preferred Shares Dividend per one common share of PAIM. Shareholders that bought PAIM shares out of the market, on or after March 15, 2006, are not entitled to the dividend.