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Equity Bridges Financial Relations: comments on CMKM Diamonds Inc. legal proceedings


May 06, 2005 (M2 PRESSWIRE via COMTEX) --

Wayne Pedersen President of Equity Bridges Financial Relations comments on the legal proceedings involing the SEC and CMKM Diamonds Inc. (Pink Sheets: CMKX)

Urban Casavant President of CMKX released a press release regarding the status of the upcoming administrative hearing. In this press release he also for the first time publicly acknowledges what has only been a strong rumour to this point and that is the naked short selling of CMKX. Previous to this release I found it hard to believe that this stock could have a short position after we all publicly discovered the outstanding shares were 703 billion but it is obvious that the rumour is for real. The SEC considers the naked short selling of CMKX immaterial and irrelevant. The SEC is supposed to protect investors. I cannot see how this is irrelevant. Urban Casavant feels this is very relevant.

As we draw closer to the hearing it appears the support for Urban and Company is growing stronger by the day. Bill Frizzell is an attorney representing over 3600 investors totalling combined holdings of over 260 billion shares of CMKX. CMKX is rumoured to have 40,000 to 70,000 total investors.

Here is the link: http://www.cmkxownersgroup.com

This hearing in my opinion is much more than just a hearing about a Company that is delinquent in it's filings, it is about "what is right". What I see is a Company that has a large amount of land rights surrounding what will likely be one of the largest diamond mines in the world in the next five to seven years. I recently attended a Resource Investment Conference in Calgary, Alberta and spoke with representatives of Shore Gold Inc. (SGF.TO) and Kensington Resources Ltd. (KRT.V) and they both confirmed they are already planning their own mines in the Forte a la Corne area and emphasized the unique infrastructure that already exists with Prince Albert (population 40,000) located 80kms away. When I consider all of the land CMKX encompasses around the Forte a la Corne area I consider Urban Casavant as someone who has done his homework.

Here is the link to the land map: http://www.casavantmining.com/locations.asp Notice the land in light yellow is CMKX property and the land in red is also CMKX property with joint venture partners: United Carina (UCA.V), Shane Resources (SEI-H.V), Consolidated Pine Channel Gold (KPG.V).

This land cannot be taken away by the SEC.

As far as being delinquent in filings goes, I see no harm in getting those filings up to date as Urban was trying to do. There should not be a ruling on deregulation when a Company is attempting to resolve problems. Urban is not purposely neglecting filing he is trying to rebuild this stock. Many shareholders purchased CMKX knowing full well there was no filings. In my opinion it does not help protect the public by deregulating this stock.

They need to collectively resolve the filings issue and address what really endangers the public and that is naked short selling. Naked short selling is when a security is sold without borrowed stock, in other words, selling stock that does not exist. Inevitably someone who buys that stock is actually buying non-existent stock. The SEC in my opinion is not addressing this issue with penny stocks for reasons I would sure like to know.

If CMKX is deregulated, parties involved with naked short sales of CMKX will never have to buy those shares back to cover and will simply make a 100% profit on the public's money. That is not protecting the public and that is very relevant in the proceedings. This is why I feel this hearing is so much more than an administrative hearing. This hearing is about the truth, about being honest and doing the right thing and most importantly this hearing is about doing what is right for the public.

I urge the SEC to do what is right. Give the hard working people what they want. "Stop Naked Short Selling in the Microcap Markets" This is no different then counterfeiting. There are very good people in CMKX with a lot of money. Do not let them lose faith in our system. Do not lose their money. Help CMKX get their filings in order and balance the shares of CMKX in the open market. That is simply all most shareholders want in my opinion.

Equity Bridges Financial Relations (EBFR) has been in business since 1999 and has represented over 100 Companies. EBFR is committed to investors as much as we are committed to companies.

We firmly believe that well informed investors is one of the most important functions a publicly traded company can do. "We help bridge the gap between companies and investors."

Visit our website to learn more at: www.equitybridges.com

The owner and staff of Equity Bridges Financial Relations are not licensed investment advisors.

Nor do we give out buy, sell or hold advice to anyone. We have not been compensated in anyway to publish this report. Full disclaimer/disclosure is located at:

www.equitybridges.com/cmkxdisclaimer.htm

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CONTACT: Wayne Pedersen e-mail: [e-mail]

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