CMKM-Yep-CMKM Diamonds Provides Corporate Update
Monday August 28, 12:40 pm ET
LAS VEGAS--(BUSINESS WIRE)--Aug. 28, 2006--CMKM Diamonds Inc. wishes to update its loyal and patient shareholder base on current actions of the company and plans for the future.
"I wish to personally thank our shareholders for enduring this extremely long quiet period that has had to take place in order for our Company to comply with regulatory issues and make plans for the company to continue moving forward," stated Urban Casavant.
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It should be noted that Mr. Casavant has been suffering from serious health related issues and is no longer able to carry on the day to day related activities of the company. Mr. Casavant plans to remain as a Director of the Company and intends to announce new management within the next two weeks. Along with this announcement, new management will be instructed to re-establish an office within the next 30-45 days.
On June 6, 2006, the Task Force was officially dissolved with a recommendation to the Company to interplead the 45 million share Entourage certificate in United States District Court in an effort to complete the identifying process of the bona fide shareholders and distribute the shares thereafter. The Task Force was created as an independent third party to give an unbiased opinion as to who the bona fide stockholders of CMKM are.
Mr. Casavant added, "I would also like to personally thank the Task Force for all of their hard work. Mr. Maheu, Mr. Stoecklein and Mr. Frizzell have done an exceptional job and the company thanks them for their commitment to accuracy in reporting, due diligence and their firm resolve and pursuit of what has always been the best interests of the shareholders of the Company."
Recently-retained legal counsel for CMKM, John T. Moran III of the Law Offices of Moran & Associates, a law firm whose residence is situated in the Great State of Nevada, will now proceed via the federal court system and, specifically, initiation of action in interpleader and for purpose of accounting and earmarking certificates to those shareholders presenting viable equity in the Company. As part of the Task Force's recommendation, the federal courts have subpoena power which, if deemed appropriate, could ultimately be used to gain cooperation from brokers that have allegedly-refused to comply with the Company and Task Force's efforts to date. This interpleader action must take place so that the Company can move forward.
The Company intends on communicating all related information deemed material to the shareholders in a timely manner and anticipates a busy schedule related to the matters contained in this press release.
The Company wishes to communicate to its shareholders that the message boards are not the place to find official news from the Company. The Company will only disseminate information to its shareholders through the use of an official press release.
Safe Harbor Statement:
This news release contains certain "forward-looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.
Contact:
CMKM Diamonds Inc., Las Vegas
