Sincerely2 if you look at the 1/7/03 pr it says it all. Everything that they talked about is happening right now.
News> Casavant Mining Kimberlite International Announces
LAS VEGAS--(BUSINESS WIRE)--Jan. 7, 2003
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI)
announced today a series of corporate initiatives in advance of the
January 15, 2003 majority shareholder meeting to be held in Las
Vegas, NV.
First, CMKI is encouraging every shareholder to hold his shares in
certificate form and if the shares are held in street name to make
sure that he registers the shares in his own name to make sure the
shareholder is properly identified in the official shareholder's audit that
is being conducted by the Company and its Transfer Agent. The
purpose of the audit is to make sure that every shareholder of record
is identified for purposes of the CMKI's mandatory share and cash
dividend policy. The share and cash dividend policy is explained below
in fuller detail.
Second, CMKI will be contacting the broker-dealer and market maker
community to request their cooperation in the shareholder audit. In
this regard, CMKI has identified the following market-makers who are
active in the Company's shares based on information obtained on
January 6, 2003 at www.otc.bb.com, as follows:
AGIS Aegis Capital Corp.
BAMM Brokerage America, Inc.
BMAS BMA Securities
BPAT Baird, Patrick & Co., Inc.
CLYN Carlin Equities Corp.
DOMS Domestic Securities, Inc.
FRAN Wm. V. Frankel & Co., Inc.
GNET Globenet Securities, Inc. (1)
GNLN Gunallen Financial, Inc.
GVRC GVR Company LLC
HILL Hill Thompson Magid, L.P.
JEFF Jeffries & Company, Inc.
LTCO Ladenburg, Thalman & Co., Inc.
MAYF May Financial Corporation
MHMY M. H. Meyerson & Co., Inc.
NAIB Global Partners Securities Inc.
NATL National Securities Corporation
NITE Knight Securities, L.P.
PGON Paragon Capital Markets, Inc.
PILL Phillip Louis Trading Corp.
PRGM Program Trading Corp.
PUGS Puglisi & Co.
QUIN Park Financial Group, Inc.
SCHB Schwab Capital Markets, L.P.
SEAB Seabord Securities, Inc.
TDCM T.D. Waterhouse Capital Markets
VFIN Vfinance Investments, Inc.
(1) Globenet Securities, Inc. was an active market maker during part
of the trading day on January 6, 2003, but later "excused" itself from
market making activities.
Third, CMKI has been informed that majority shareholders plan on
holding their shares in certificate form indefinitely if it helps the
Company combat "naked short selling". Under a naked short sale,
short positions are not declared, shares are not borrowed to cover
the short sale, and the shares are sold without delivering the stock to
the purchaser. Real shareholder ownership is undermined by naked
short sales of stock and failed deliveries of real certificates that
artificially inflate ownership and devalue the price of the securities.
Fourth, CMKI, as previously announced, plans on approving at its
majority shareholder meeting a mandatory share and cash dividend
policy. The share dividend policy reflects the Company's acquisition
strategy that identifies undervalued take-over targets in mineral
resource and related businesses. The Company is currently evaluating
7 companies each of whom will benefit from new managerial economic
assessment, asset appraisals, accounting peer review and legal
restructuring.
Fifth, CMKI believes that its shareholders and the targeted
company's shareholders will best benefit from a "cross-dividend"
policy. For example, if CMKI acquires a new target company in an
exchange of shares, CMKI will pay its shareholders a mandatory 8%
dividend of the total number of shares exchanged with the new target
company. The shareholders of the new target company will be
treated with the same fairness and therefore will be entitled to
receive a mandatory 8% dividend of the total number of CMKI shares
exchanged with the new target company. Since the mining and
mineral resources business is highly fragmented, CMKI believes that
its acquisition strategy will provide a way to leverage its assets into a
larger more diversified portfolio of companies.
Sixth, CMKI believes that its cross-dividend policy will result in share
dividends being issued in the 3Q03. The legal audit of its shareholders
of record will speed up this process. Further, CMKI has structured its
mandatory 10% cash dividend policy (which is based on its net
earnings) to benefit those shareholders of record on the declared
dividend date.
Seventh, CMKI believes that its acquisition strategy, spearheaded by
the Casavant Family, will require the addition of a seasoned
management team. Accordingly, the Board of Directors has nominated
Jay McFadden to become Vice-Chairman and Chief Executive Officer,
David Bending as President and Chief Operation Officer, and Rick Taulli
as Secretary. Messrs. McFadden, Bending and Taulli are currently
affiliated with Juina Mining Corporation. See www.juinamining.com.
The Board of Directors has nominated David DeSorneau as Treasurer.
Mr. DeSorneau was previously a consultant to CMKI. See December 3,
2002 Press Release. The nominations will be voted upon by the
majority shareholders at the January 15, 2003 meeting.
Eighth, CMKI will be a featured guest on the news talk radio show
"Not for Widows and Orphans", hosted by international economist Mike
King at Princeton Research, Inc. The radio talk show is broadcast live
via the internet every Sunday evening. The talk show schedule is
available at www.princetonresearch.com
