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Post by Franko10 ™ on Jan 30, 2005 22:06:00 GMT -5
Casavant Mining Kimberlite International Announces Letter of Intent to Acquire Diamond Mining Company and Shareholder Meeting January 15, 2003 in Las Vegas, NV
LAS VEGAS--(BUSINESS WIRE)--Dec. 4, 2002
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI) announced today a Letter of Intent to acquire Juina Mining Corp. (Pink Sheets:GEMM) a diamond mining company with working interests in producing diamond fields in Brazil.
www.juinamining.com
The Letter of Intent is subject to shareholders approval of both companies following an accelerated due diligence period. The transaction will be based on an exchange of shares at the closing prices of the two companies effective December 3, 2002 on a multiple formula to be determined. In addition, Casavant Mining Kimberlite International has agreed to provide project funding and to assist in debt reduction after audit. Notices to shareholders will be given shortly with a date of January 15, 2003 agreed among the parties for the shareholders meeting. The meeting will be held in Las Vegas, NV at a time and location to be set-forth in the Notice. CMKI intends on filing a proxy with the Securities and Exchange Commission for shareholder approval of the Letter of Intent and other corporate restructuring matters. Notices will be sent out this week.
The Juina claim is located approximately 550 km (342 miles) north of the City of Cuiaba by air charter or 724 km (450 miles) by road. With a population of about one million, Cuiaba is a major urban center in southern Mato Grosso, and is serviced with regular flights from Sao Paulo and Brasilia. Rio de Janeiro is about 1800 km (1,119 miles) southeast of Juina. The Juina claim is located within the Aripuana - Juina Kimberlite Province, the largest diamond producing area in Brazil. Kimberlites are the principal source of primary diamond deposits, and an occurrence of Kimberlite is shown on government geology maps to be in the vicinity of the boundary of Property 1000. Substantial alluvial diamond deposits have been identified by De Beers and others in the Juina region.
This is the first in many targeted acquisitions and roll-ups of existing diamond and other mineral resources companies. With a seasoned management team, high technology exploration methods that can better profile diamondiferous kimberlite pipes (both magnetic and non-magnetic), and on-line audit oversight of mining operations, Casavant Mining Kimberlite International is poised to take advantage of a consolidation of junior mining companies without losing focus on its core claims in Saskatchewan.
Urban Casavant, Chairman stated "we are a new breed of prospectors and miners. With a quantum leap in technology, both hardware and software, we have the necessary tools to quickly and cost effectively evaluate mineral claims. The bottom line is to find diamonds and other precious metals at minimum cost against the world market price. We can do that and our fellow junior mining company executives know that creating for us the perfect opportunity to capitalize on what we know for the benefit of our shareholders."
FORWARD LOOKING STATEMENTS
This Press Release contains "forward looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). 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.
COPYRIGHT 2002 Business Wire
COPYRIGHT 2002 Gale Group
LAS VEGAS--(BUSINESS WIRE)--Dec. 4, 2002
Casavant Mining Kimberlite International Inc. (OTCBB:CMKI) announced today a Letter of Intent to acquire Juina Mining Corp. (Pink Sheets:GEMM) a diamond mining company with working interests in producing diamond fields in Brazil.
www.juinamining.com
The Letter of Intent is subject to shareholders approval of both companies following an accelerated due diligence period. The transaction will be based on an exchange of shares at the closing prices of the two companies effective December 3, 2002 on a multiple formula to be determined. In addition, Casavant Mining Kimberlite International has agreed to provide project funding and to assist in debt reduction after audit. Notices to shareholders will be given shortly with a date of January 15, 2003 agreed among the parties for the shareholders meeting. The meeting will be held in Las Vegas, NV at a time and location to be set-forth in the Notice. CMKI intends on filing a proxy with the Securities and Exchange Commission for shareholder approval of the Letter of Intent and other corporate restructuring matters. Notices will be sent out this week.
The Juina claim is located approximately 550 km (342 miles) north of the City of Cuiaba by air charter or 724 km (450 miles) by road. With a population of about one million, Cuiaba is a major urban center in southern Mato Grosso, and is serviced with regular flights from Sao Paulo and Brasilia. Rio de Janeiro is about 1800 km (1,119 miles) southeast of Juina. The Juina claim is located within the Aripuana - Juina Kimberlite Province, the largest diamond producing area in Brazil. Kimberlites are the principal source of primary diamond deposits, and an occurrence of Kimberlite is shown on government geology maps to be in the vicinity of the boundary of Property 1000. Substantial alluvial diamond deposits have been identified by De Beers and others in the Juina region.
This is the first in many targeted acquisitions and roll-ups of existing diamond and other mineral resources companies. With a seasoned management team, high technology exploration methods that can better profile diamondiferous kimberlite pipes (both magnetic and non-magnetic), and on-line audit oversight of mining operations, Casavant Mining Kimberlite International is poised to take advantage of a consolidation of junior mining companies without losing focus on its core claims in Saskatchewan.
Urban Casavant, Chairman stated "we are a new breed of prospectors and miners. With a quantum leap in technology, both hardware and software, we have the necessary tools to quickly and cost effectively evaluate mineral claims. The bottom line is to find diamonds and other precious metals at minimum cost against the world market price. We can do that and our fellow junior mining company executives know that creating for us the perfect opportunity to capitalize on what we know for the benefit of our shareholders."
FORWARD LOOKING STATEMENTS
This Press Release contains "forward looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). 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.
COPYRIGHT 2002 Business Wire
COPYRIGHT 2002 Gale Group
