CMKM Diamonds Inc. (fka CMKX)

[Art2Gecko]

CMKX - CMKM Diamonds Provides Corporate Update [FPBXJFJ]

LAS VEGAS--(Business Wire)--Nov. 4, 2005--
CMKM Diamonds Inc. today announced a corporate update to its stockholders by disclosing the following information:
Status of Entourage Agreements. On Oct. 28, 2005, Entourage Mining Ltd. completed a private placement of $1,050,000, which effectively removed all contingencies from the agreements disclosed in the Oct. 21, 2005, CMKM Form 8-K. CMKM is awaiting final receipt of the 50,000,000 shares of Entourage Mining common stock. Upon receipt of the 50,000,000 share certificate, the certificate will be held in trust by Stoecklein Law Group in the firm's bank deposit box pending distribution.
Revocation of 34 Act Reporting. On or about Oct. 28, 2005, the Securities and Exchange Commission, in response to CMKM's withdrawal of its appeal, declared Administrative Law Judge Brenda Murray's initial decision final. This effectively revoked CMKM's reporting status under the Securities Exchange Act of 1934, as amended. As such, it is currently unlawful for any broker dealer to effectuate a trade in CMKM's common stock.
Distribution/Dividend of Entourage Common Stock and all other assets of CMKM. CMKM's board of directors, through the distribution Task Force described below, has resolved to distribute the 50,000,000 shares of Entourage common stock to all CMKM bona fide stockholders. In order to be considered a bona fide stockholder of CMKM, a physical stock certificate issued in his/her/its name will need to be presented to the distribution Task Force for confirmation on or before Dec. 31, 2005, or as extended at the sole discretion of the Task Force.
Electronic and/or other forms of ownership (i.e. -- brokerage statements) will not be accepted by the Task Force as evidence of ownership. Therefore, CMKM stockholders who hold their shares in "street name" will need to demand physical certificates from their broker in order to be considered a bona fide CMKM stockholder and be entitled to their proportionate share of the Entourage common stock and any other assets of CMKM to be distributed to its bona fide stockholders.
At the time of CMKM's revocation, CMKM had 703,518,875,000 shares of common stock validly issued and outstanding.
Urban Casavant, CMKM's sole officer and director, has informed the distribution Task Force that neither he nor his immediate family members will receive any of the Entourage shares in the distribution.
Distribution Task Force. As previously released, CMKM has established a distribution Task Force consisting of Robert A. Maheu, Bill Frizell and Donald J. Stoecklein. The distribution Task Force will be entrusted to ensure the shares of Entourage common stock, and any other assets of CMKM, are distributed to only CMKM bona fide stockholders. The Task Force has been given full and complete authority to use all means necessary, including bringing federal or state court legal action, to make certain all bona fide CMKM stockholders receive their proportionate allocation of the Entourage common stock and any other assets of CMKM available for distribution.
Maheu, former CMKM co-chairman and the designated trustee of the Task Force, stated, "I am fully committed to protecting the interests of bona fide CMKM stockholders, including if necessary, bringing appropriate federal or state court actions to ensure the appropriate distribution of the Entourage shares is made. When I initially took on the assignment of assisting CMKM with its compliance needs, of primary concern was doing the right thing for the stockholders. We faced a tremendous number of hurdles, including the trading halt, administrative hearing and let down of numerous professionals. However, with the continued commitment of Urban Casavant and diligent professionalism of Stoecklein Law Group, we are trying to overcome the obstacles of the past and look forward into the future towards distributing value to CMKM's bona fide stockholders. I want to commend Urban and his immediate family for deciding not to share in the distribution of the Entourage shares. This goes a long way towards showing the Casavant family's continued commitment to the CMKM stockholders." Maheu further stated, "This is a time for the CMKM stockholders to look forward towards the future and forget the past. Working as a united front will allow us to extract all available sources of value for distribution."
The Task Force will be establishing a fax line where all CMKM bona fide stockholders can fax a copy of their certificates to be matched to a certified stockholder list. All CMKM bona fide stockholders will need to be identified on or before Dec. 31, 2005, or as extended at the sole discretion of the Task Force. Once CMKM's bona fide stockholders are identified, the Task Force will issue further instructions on how and when the distributions will be made.
Management. As CMKM is effectively a non-operational company holding only the Entourage shares and intangible assets, Urban Casavant will remain as the sole officer and director of CMKM until the Task Force identifies all bona fide CMKM stockholders and all of the affairs of CMKM are wound up.
Again, neither Casavant nor any of his immediate family members will receive any of the Entourage shares in the distribution.
Nevada Minerals Default. Effective Oct. 29, 2005, CMKM was unable to cure the ongoing default with Nevada Minerals under the Operation Agreement for The American Shaft in Portovelo, Ecuador. Therefore, all of CMKM's right, title and interest in The American Shaft has been relinquished to Nevada Minerals.
Future Correspondence. CMKM stockholders are being asked to please refrain from contacting Maheu and the Stoecklein Law Group. All corporate updates will be made in press releases or other forms of distribution media as they become available. The Task Force is in the process of establishing a Web site, www.cmkmtaskforce.com, for posting of all corporate updates and other relevant information as and when it becomes available.

CMKM Diamonds Inc., Las Vegas Investor Relations 702-966-6328

Copyright Business Wire 2005 04Nov05 19:50 GMT
Source BW Business Wire
Categories: MST/L/EN MST/R/NME MST/R/US MST/R/US/NV TGT/BWB