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Post by Franko10 ™ on Jan 29, 2005 0:03:47 GMT -5
Casavant International Mining, Inc. Announces Spin-Out
- PR Newswire
LAS VEGAS, Dec 19, 2003 /PRNewswire via COMTEX/ -- On December 19, 2003 Casavant Mining Kimberlite International (Pink Sheets: CMKM) Board of Directors announces that the feasibility of a spin out of corporate zinc deposits at George Lake, Saskatchewan, currently held in its wholly owned subsidiary Casavant International Mining, Inc. (CIM), is being undertaken with a representative of Mirador Corporation (Pink Sheets: MRDR). This is subject to due diligence which is currently being undertaken by representatives from each company: CMKM, CIM and MRDR as to the feasibility of this share exchange.
The spin-out, in principle, has been approved by CMKM as announced by CMKM on December 8, 2003. If a CIM/MRDR exchange is approved, CIM will become a wholly owned subsidiary of MRDR which will undergo a name-change, an increase in authorized share capital, and new Board of Directors. The shareholders of CIM would each receive a share in MRDR in exchange for their shares in CIM. The effective exchange date is anticipated to be January 15, 2004.
Should the CIM/MRDR exchange fail to pass due diligence then an alternative exchange will be undertaken with a different suitor to achieve the same result for the CIM shareholders.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
SOURCE Casavant Mining Kimberlite International
Diamonds Hotline, Melvin O'Neil of Casavant Mining Kimberlite
International, +1-306-752-3755, or 877-752-3755, or fax, +1-306-752-3754, or
ipr@sasktel.net
www.prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
- PR Newswire
LAS VEGAS, Dec 19, 2003 /PRNewswire via COMTEX/ -- On December 19, 2003 Casavant Mining Kimberlite International (Pink Sheets: CMKM) Board of Directors announces that the feasibility of a spin out of corporate zinc deposits at George Lake, Saskatchewan, currently held in its wholly owned subsidiary Casavant International Mining, Inc. (CIM), is being undertaken with a representative of Mirador Corporation (Pink Sheets: MRDR). This is subject to due diligence which is currently being undertaken by representatives from each company: CMKM, CIM and MRDR as to the feasibility of this share exchange.
The spin-out, in principle, has been approved by CMKM as announced by CMKM on December 8, 2003. If a CIM/MRDR exchange is approved, CIM will become a wholly owned subsidiary of MRDR which will undergo a name-change, an increase in authorized share capital, and new Board of Directors. The shareholders of CIM would each receive a share in MRDR in exchange for their shares in CIM. The effective exchange date is anticipated to be January 15, 2004.
Should the CIM/MRDR exchange fail to pass due diligence then an alternative exchange will be undertaken with a different suitor to achieve the same result for the CIM shareholders.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
SOURCE Casavant Mining Kimberlite International
Diamonds Hotline, Melvin O'Neil of Casavant Mining Kimberlite
International, +1-306-752-3755, or 877-752-3755, or fax, +1-306-752-3754, or
ipr@sasktel.net
www.prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
