YBM the company has elected to distribute this additional 127,336,036 as a dividend on the same record and distribution date.
CMKM Diamonds Inc. Announces Dividend of Juina Mining Shares
LAS VEGAS, Aug 2, 2004 (BUSINESS WIRE) --
CMKM Diamonds Inc. (Pink Sheets: CMKX) announced today that it has elected to distribute the 95,502,027 shares of Juina Mining Corp. (Pink Sheets: GEMM) which were recently purchased by the company as a dividend to its shareholders.
The company has chosen Oct. 1, 2004, as the record and distribution date for this latest dividend to its shareholders.
In addition, GEMM has issued a 60-day option to CMKX to purchase shares equivalent to an additional 24% of the outstanding shares in GEMM for an additional $500,000 USD. When exercised, the company has elected to distribute this additional 127,336,036 as a dividend on the same record and distribution date.
Urban Casavant, president and CEO of CMKX, stated, "This continues our expansion into known diamond-bearing fields throughout the world. This expansion is an important step as the company continues to seek to provide additional value for its shareholders. We are excited that this addition to our company's holdings will increase our ability to more rapidly move into the active mining and processing of diamonds. Juina has a history of producing large and colored diamonds whose demand is rapidly expanding in the current world market."
Further updates on this transaction will be made in press releases and on both companies' Web sites.
www.casavantmining.com
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. 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.
SOURCE: CMKM Diamonds Inc.
CMKM Diamonds Inc.
Diamonds Hotline
Melvin O'Neil, 306-752-3755/877-752-3755
Fax: 306-752-3754
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