Corporate Update
The share consolidation proposal would authorize the board of directors of Camino to consolidate the Common Shares on a ten (10) pre-consolidation shares for one (1) post-consolidation share basis (the Consolidation). There are approximately 96,265,432 Common Shares issued and outstanding. The Consolidation will not change a shareholder's proportionate ownership in Camino or the rights of holders of Common Shares.
Management and the board of directors believe that the Consolidation is in the best interests of the Company and its shareholders as it will provide Camino with the flexibility needed to acquire and finance new projects. The Company is actively seeking to acquire new projects located in the Americas that offer discovery opportunity. Camino has reviewed close to 100 projects and has conducted several site visits. The Company hopes to make an acquisition in the very near future.
The Consolidation is subject to approval by the TSX Venture Exchange and the shareholders of Camino. A special meeting of the shareholders will be held to consider the Consolidation.
About Camino Minerals Corporation Camino is a discovery-oriented mineral exploration company formed in connection with Goldcorp's C$300-million acquisition of Canplats. The Company is led by Canplats' former management and is focused on precious and base metal projects located in Mexico. For more information on Camino's projects, please refer to the Company's website at www.caminominerals.com
For further information, contact:
Corporate Information: Camino Minerals Corporation R.E. Gordon Davis Chairman and C.E.O. Direct: (604) 629-8292
Investor Inquiries: Blaine Monaghan V.P., Corporate Development Direct: (604) 629-8294 Toll-Free: (866) 338-0047 info@caminominerals.com http://www.caminominerals.com
To receive Camino's news releases, contact Blaine Monaghan, V.P., Corporate Development, at info@caminominerals.com or (866) 338-0047.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, forward-looking statements). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund exploration, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in Camino's filings on SEDAR. The company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
