2012-12-03 19:20:04 -
TORONTO, ONTARIO -- (Marketwire) -- 12/03/12 -- The concerned shareholder of Continental Precious Minerals Inc. ("Continental", "CZQ" or the "Company") is aware of the Company's filing on SEDAR on Friday evening, November 30, 2012, purporting to cancel the CZQ annual and special meeting to be held on December 20, 2012. Nothing has changed since the issuance of our press release on the afternoon of November 30, 2012. Although the concerned shareholder is not a party to this legal matter, based on the Court record, the concerned shareholder is aware that the Court has issued an order requiring the Company's shareholder meeting to be held on December 20, 2012, and this order remains unamended at this time. In only one week, 23,520,716 shares of Continental (which represent 41.45% of the issued and outstanding shares of Continental) have already been submitted in support of the concerned shareholder's nominees for the Continental board of directors, and the concerned shareholder will become involved in the matter before the Court to the extent necessary to ensure that Continental shareholders finally get a chance to have a say on the future direction of the Company. The concerned shareholder wants to once again take this opportunity to express sincere gratitude to the large number of Continental shareholders who have expressed their support for the concerned shareholder's nominees to date - we are almost there to successfully implement much needed change and we urge others who have yet to vote to do so as a way to ensure this happens.
The concerned shareholder continues to encourage Continental shareholders to vote the YELLOW proxy to ensure change. Continental shareholders are reminded that given the 50% proxy requirement that the Company has in place for a vote on directors, the Company does not necessarily need to be successful in moving the meeting date from December 20, 2012 if they are successful in discouraging shareholders from voting by suggesting a new meeting date will be set. A new meeting date would only be a waste of shareholders time and money they have invested in CZQ.
Do not risk the future of your CZQ investment any longer. The concerned shareholder looks forward to proper governance, accountability, and real growth of the Company after December 20th. If shareholders do not act now it could be at least another year before the incumbent management, under TSX and public company regulations, is obligated to hold a shareholder meeting again. Another year of value destruction and ever-dwindling treasury drainage is not an option. Please act now while we have a company to not only save, but to elevate and optimize in a clear and demonstrable manner, in order to rapidly reward shareholders in the short-term, and over the longer-term.
Regardless of how many shares you own, all Continental shareholders are urged to read the information circular prepared by the concerned shareholder, and to seize this opportunity and vote the YELLOW proxy to ensure change.
Shareholders who have voted the management proxy and wish to support the concerned shareholder have the right to change their vote by simply executing a YELLOW proxy. A later dated YELLOW proxy replaces a previous recorded vote.
Time is of the essence, YELLOW proxies must be returned no later than December 17, 2012 at 5:00 p.m. (Toronto Time).
If you have any questions or require any assistance in executing your proxy, please call CST Phoenix Advisors at:
North American Toll Free Number: 1-800-332-7449
Outside North America, Banks, Brokers and Collect calls: 1-201-806-2222
North American Toll Free Facsimile: 1-888-509-5907
For ease of voting and up to date information please continue to visit www.unlockcontinental.com
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. These statements are based on current expectations of the concerned shareholder and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate.
The concerned shareholder does not assume any obligation to update any forward-looking statements contained in this press release, except as required by applicable law. Please refer to the concerned shareholders' circular for further information regarding the risks of these statements.
Phoenix Advisory Partners
Senior Vice President