Owner
Post by Franko10 ™ on Jan 19, 2006 15:03:43 GMT -5
CMKM Diamonds Task Force Provides Corporate Update
1/19/2006 3:01:01 PM
LAS VEGAS, Jan 19, 2006 (BUSINESS WIRE) -- CMKM Diamonds Inc. today announced a corporate update to its stockholders by disclosing the following information:
Periodically CMKM intends to provide updates by the Task Force, which has been implemented to distribute assets primarily consisting of 45,000,000 shares of Entourage Mining Ltd. common stock. The Task Force will not be directly responding to questions from CMKM stockholders. Robert A. Maheu, a Task Force Administrator, stated, "The sole purpose of the Task Force is to assist the stockholders of CMKM in obtaining a distribution of the assets of CMKM, pursuant to a Distribution Plan, primarily consisting of the Entourage shares. We are not in a position to and will not speculate on hypotheticals. We are not dealing in the shadows and can assure all CMKM stockholders that all members of the Task Force are working as a united front and are all being provided with the same information."
As to why there has been no news in the past month, the Task Force was awaiting delivery of the share certificate from Entourage, which was received on Thursday, Jan. 12, 2006. The Task Force Administrators were of the opinion that any news relating to the Distribution Plan, without having receipt of the actual assets for distribution, may have sent an improper signal to the stockholders, implying that the assets were in the control of the Task Force.
On Nov. 18, 2005, Entourage Mining Ltd. announced that it had closed the private placement, which was a condition to completing the transaction involving the issuance of an original 50,000,000 shares of Entourage stock to CMKM. Subsequently, as a result of a decrease in the mining claims involved in the original transaction, Entourage unilaterally reduced the number of shares by 5,000,000 shares. (Entourage's press releases can be found on their Web site: http://www.entouragemining.com.)
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 Task Force for confirmation on or before the extended date of March 15, 2006, or as further extended in the sole discretion of the Task Force. It is unlikely that this date will be extended again, unless to provide sufficient opportunity for CMKM stockholders to obtain their certificates from brokerage houses, the DTC, and the Transfer Agent. The Transfer Agent has received numerous requests for certificate transfers and is doing its best to process requests as quickly as possible. The Task Force has asked all stockholders to please be courteous to the Transfer Agent and understand the magnitude of their job at hand. The Task Force is in active communication with the Transfer Agent and is doing everything within their power to assist with an orderly and efficient transfer process.
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 bona fide stockholders.
Stockholder's certificates are only being utilized to verify their entitlement to their percentage of the distribution of CMKM assets, primarily consisting, at this time, of the Entourage stock. A stockholder will retain their CMKM shares upon completion of the verification process. It is currently not possible to estimate how long the verification process will take. Any stockholder, who cannot produce a certificate or does not desire receipt of a distribution, will not receive a distribution of Entourage shares or other CMKM assets. Any assets available for distribution will be proportionately distributed to those stockholders who have complied with the certificate verification process. 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.
The Task Force was formed solely for the purpose of establishing a Distribution Plan and supervising the distribution of the Entourage shares and other assets of CMKM, if any. The Task Force will not be conducting any due diligence to determine the validity of any other potential assets of CMKM other than those stated above. The Frizzell Law Firm is handling the certificate fax-in program and certificate verification. Because of the significant interest of various stockholder groups, it has been determined by the Task Force to delegate the various activities required to comply with a Distribution Plan. The Distribution Plan has not been finalized at this time.
The Task Force has been apprised of the significant rumors pertaining to the receipt of funds and erroneous agreements reached with brokerage firms short in CMKM's stock. Other than the funds received from Casavant to pay for certain of the costs associated with the Task Force's operations, there have been no funds received from brokers/dealers or any other sources. In addition, none of the Task Force Administrators have been in communication with any firm as to a proposal to cover a failed delivery in CMKM stock. Further, Maheu categorically denies that he has a grandson involved with CMKM, and stated that "anyone purporting to be my grandson and involved with CMKM is not legitimate." Additionally, it should be known that the Stoecklein Law Group is not counsel for CMKM. The Stoecklein Law Group is currently involved only in assisting stockholders in the receipt of their appropriate number of shares of Entourage stock and other assets, if available.
The Task Force has established two fax lines (903-595-5724 and 903-595-5394) where all CMKM stockholders can fax a copy of their certificates to be matched to a certified stockholder list. All CMKM stockholders will need to be identified on or before March 15, 2006, or as further extended at the sole discretion of the Task Force. Once CMKM's stockholders are identified, the Task Force will issue further instructions on how and when distributions will be made.
Lastly, each of the members of the Task Force has received subpoenas from the SEC to produce documents and appear for depositions. It is unclear at this time what impact the SEC will have, if any, on the distribution and operations of the Task Force.
CMKM stockholders are being asked to please refrain from contacting Maheu, the CMKX Owners Group, the Frizzell Law Firm and/or the Stoecklein Law Group. All corporate and Task Force updates will be made in press releases or other forms of distribution media as they become available. The Task Force has established a Web site, www.cmkmtaskforce.com, for posting of corporate updates and other relevant information as and when it becomes available.
SOURCE: CMKM Diamonds Inc.
CMKM Diamonds Inc., Las Vegas
Investor Relations
702-966-6328
Copyright Business Wire 2006
1/19/2006 3:01:01 PM
LAS VEGAS, Jan 19, 2006 (BUSINESS WIRE) -- CMKM Diamonds Inc. today announced a corporate update to its stockholders by disclosing the following information:
Periodically CMKM intends to provide updates by the Task Force, which has been implemented to distribute assets primarily consisting of 45,000,000 shares of Entourage Mining Ltd. common stock. The Task Force will not be directly responding to questions from CMKM stockholders. Robert A. Maheu, a Task Force Administrator, stated, "The sole purpose of the Task Force is to assist the stockholders of CMKM in obtaining a distribution of the assets of CMKM, pursuant to a Distribution Plan, primarily consisting of the Entourage shares. We are not in a position to and will not speculate on hypotheticals. We are not dealing in the shadows and can assure all CMKM stockholders that all members of the Task Force are working as a united front and are all being provided with the same information."
As to why there has been no news in the past month, the Task Force was awaiting delivery of the share certificate from Entourage, which was received on Thursday, Jan. 12, 2006. The Task Force Administrators were of the opinion that any news relating to the Distribution Plan, without having receipt of the actual assets for distribution, may have sent an improper signal to the stockholders, implying that the assets were in the control of the Task Force.
On Nov. 18, 2005, Entourage Mining Ltd. announced that it had closed the private placement, which was a condition to completing the transaction involving the issuance of an original 50,000,000 shares of Entourage stock to CMKM. Subsequently, as a result of a decrease in the mining claims involved in the original transaction, Entourage unilaterally reduced the number of shares by 5,000,000 shares. (Entourage's press releases can be found on their Web site: http://www.entouragemining.com.)
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 Task Force for confirmation on or before the extended date of March 15, 2006, or as further extended in the sole discretion of the Task Force. It is unlikely that this date will be extended again, unless to provide sufficient opportunity for CMKM stockholders to obtain their certificates from brokerage houses, the DTC, and the Transfer Agent. The Transfer Agent has received numerous requests for certificate transfers and is doing its best to process requests as quickly as possible. The Task Force has asked all stockholders to please be courteous to the Transfer Agent and understand the magnitude of their job at hand. The Task Force is in active communication with the Transfer Agent and is doing everything within their power to assist with an orderly and efficient transfer process.
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 bona fide stockholders.
Stockholder's certificates are only being utilized to verify their entitlement to their percentage of the distribution of CMKM assets, primarily consisting, at this time, of the Entourage stock. A stockholder will retain their CMKM shares upon completion of the verification process. It is currently not possible to estimate how long the verification process will take. Any stockholder, who cannot produce a certificate or does not desire receipt of a distribution, will not receive a distribution of Entourage shares or other CMKM assets. Any assets available for distribution will be proportionately distributed to those stockholders who have complied with the certificate verification process. 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.
The Task Force was formed solely for the purpose of establishing a Distribution Plan and supervising the distribution of the Entourage shares and other assets of CMKM, if any. The Task Force will not be conducting any due diligence to determine the validity of any other potential assets of CMKM other than those stated above. The Frizzell Law Firm is handling the certificate fax-in program and certificate verification. Because of the significant interest of various stockholder groups, it has been determined by the Task Force to delegate the various activities required to comply with a Distribution Plan. The Distribution Plan has not been finalized at this time.
The Task Force has been apprised of the significant rumors pertaining to the receipt of funds and erroneous agreements reached with brokerage firms short in CMKM's stock. Other than the funds received from Casavant to pay for certain of the costs associated with the Task Force's operations, there have been no funds received from brokers/dealers or any other sources. In addition, none of the Task Force Administrators have been in communication with any firm as to a proposal to cover a failed delivery in CMKM stock. Further, Maheu categorically denies that he has a grandson involved with CMKM, and stated that "anyone purporting to be my grandson and involved with CMKM is not legitimate." Additionally, it should be known that the Stoecklein Law Group is not counsel for CMKM. The Stoecklein Law Group is currently involved only in assisting stockholders in the receipt of their appropriate number of shares of Entourage stock and other assets, if available.
The Task Force has established two fax lines (903-595-5724 and 903-595-5394) where all CMKM stockholders can fax a copy of their certificates to be matched to a certified stockholder list. All CMKM stockholders will need to be identified on or before March 15, 2006, or as further extended at the sole discretion of the Task Force. Once CMKM's stockholders are identified, the Task Force will issue further instructions on how and when distributions will be made.
Lastly, each of the members of the Task Force has received subpoenas from the SEC to produce documents and appear for depositions. It is unclear at this time what impact the SEC will have, if any, on the distribution and operations of the Task Force.
CMKM stockholders are being asked to please refrain from contacting Maheu, the CMKX Owners Group, the Frizzell Law Firm and/or the Stoecklein Law Group. All corporate and Task Force updates will be made in press releases or other forms of distribution media as they become available. The Task Force has established a Web site, www.cmkmtaskforce.com, for posting of corporate updates and other relevant information as and when it becomes available.
SOURCE: CMKM Diamonds Inc.
CMKM Diamonds Inc., Las Vegas
Investor Relations
702-966-6328
Copyright Business Wire 2006
