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Continental Precious Highlights Dissident Shortcomings
Published : December 05, 2012
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TORONTO, ONTARIO--(Marketwire - Dec. 5, 2012) - Continental Precious Minerals Inc. (News - Market indicators) (the "Company" or "Continental") wishes to assure shareholders that it will not be pressured into hasty, irresponsible actions by a dissident shareholder pre-occupied with unpredictable, short-term swings in the company's share price.

Ed Godin, chief executive officer, notes that Continental is one of only a handful in the junior mining exploration sector that has survived the ups and downs of the global commodity cycle for a quarter of a century.

Mr. Godin said: "Our cash reserves now total more than $12 million, giving us a cushion that few other junior exploration companies can match." Continental has advanced its Swedish properties on a budget of just $19.7 million (as of August 31, 2012) with minimal dilution to shareholders.

Continental shareholders are due to elect directors for the coming year at the annual meeting on December 20, 2012. Shareholders are urged not to cast their votes in favour of the dissident's nominees.

"Should the dissident nominees succeed in seizing control of Continental, your investment will be entirely at the mercy of a group with highly questionable motives and credentials," Mr. Godin said.

  • The group's ringleader, Mr. Sharad Mistry, boasts that he was previously vice-president for financial services at Pure Energy Visions Corp., a supplier of batteries. He has also spent time in the automotive, apparel manufacturing, retail, biotechnology research and franchising sectors. After Mr. Mistry succeeded in a proxy fight and gained control of International Sovereign Energy Corp., shareholders lost wealth.
  • Another nominee, Mr. Robert Perry, has several decades of experience in the Toronto stock exchange's listings department, which is hardly relevant to Continental's business. Fresh into retirement, he is a member of the audit committee of a public company that until November 28, 2012 was listed on the Ontario Securities Commission's website as a reporting issuer in default.
  • The remaining two nominees, Ms. Carmen Diges and Dr. Laurence Curtis, are a lawyer and a research analyst respectively. Ms. Diges has no experience as a director of a public company. Dr. Curtis has consistently presided as a director over poorly performing public companies.

Furthermore, none of the dissident nominees owns Continental common shares except Mr. Mistry, who owns or controls a paltry 0.3% stake. Despite such meagre holdings, the dissidents are seeking to take over the entire board.

The company poses three pertinent questions to Continental shareholders:

  • If the dissident nominees had been in control of Continental over the past few years, would the company have the healthy treasury it does today?
  • If the dissident nominees abandon the flagship Viken project in favour of "other acquisitions or joint ventures in the resource business", could Continental end up as a shell for a reverse take-over, similar to the fate of International Sovereign Energy Corp.?
  • If Mr. Mistry holds only 0.3% of the shares of Continental, does he really have a meaningful interest in Continental and why would you allow him to control the board?
Attention Continental Precious shareholders:
You can voice your disapproval of the dissidents. If you have any questions or require assistance, please contact Kingsdale Shareholder Services Inc. as follows:
  Phone Toll Free: 1-866-879-7650
  Fax Toll Free: 1-866-545-5580
  Outside North America Call Collect: 1-416-867-2272

About Continental Precious Minerals Inc:

Continental is a multi-mineral exploration company with multiple interests and exploration licences in Sweden. Since March 2005, our primary goal has been to advance its Swedish assets. We are also evaluating other opportunities as they emerge in current market conditions.



Continental Precious Minerals Inc.
Ed Godin
President & CEO
(416) 805-3036
(416) 848-0790 (FAX)
godine@rogers.com
or
Kingsdale Communications Inc.
Bernard Simon
Vice-President
(416) 867-2304
(416) 867-2271 (FAX)
bsimon@kingsdalecommunications.com
Data and Statistics for these countries : Sweden | All
Gold and Silver Prices for these countries : Sweden | All
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Continental Precious Minerals Inc.

EXPLORATION STAGE
CODE : CZQ.TO
ISIN : CA2119061026
CUSIP : 211906 10 2
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Nominations of Continental Precious Minerals Inc.
7/23/2013Announces Resignation of Director
3/19/2013Announces the Appointment of Rana Vig to Its Board of Direct...
12/20/2012-Resignation of Directors
11/22/2012Appoints Mani Verma to Board of Directors
11/1/2012-Board Resignation
Project news of Continental Precious Minerals Inc.
3/31/2011(Lilljuthatten)Files NI 43-101 Technical Report on Lill-Juthatten Licence i...
3/18/2011(Mms Vicken)Announces Update on Metallurgical Testing of MMS Viken Sampl...
Corporate news of Continental Precious Minerals Inc.
10/30/2013-Litigation Update
7/30/2013Litigation Update
5/31/2013CEO and Former Director Seeks Golden Parachute Payment
4/17/2013February 28, 2013 Results
4/3/2013Releases Additional Assays From Viken
2/28/2013
1/15/2013November 30, 2012 Results
12/5/2012Highlights Dissident Shortcomings
11/14/2012Approves Advance Notice By-Law Amendment
10/23/2012on Metallurgical Testwork on Continental Precious Minerals' ...
8/2/2012Bioleaching Tests Commence on Continental Precious Minerals'...
5/23/2012Announces Dismissal of Application by Dissident Group
3/5/2012Update on Reduction of Net Profits Royalty Interest
2/27/2012Reduction of Net Profits Royalty Interest
2/22/2012Corporate Update
1/16/2012Shareholder Update
11/8/2011Announces Normal Course Issuer Bid
10/17/2011Announces Update on Mettalurgical Work on Viken Project
7/14/2011Granted 14 Additional Exploration Licences in Southern Swede...
6/24/2011Enters Into Land Lease at Its MMS Viken Licence in Sweden
4/20/2011Extends Compensation Options
3/4/2011Completes Resource Estimate On Lill-Juthatten Licence
2/23/2011Provides Corporate Update
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TORONTO (CZQ.TO)
0.465+3.33%
TORONTO
CA$ 0.465
04/17 15:58 0.020
3.33%
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