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Old 03-04-2005, 06:18 AM
alm alm is offline
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Join Date: May 2001
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Default Securities law news - SEC suspends trading in CMKM Diamonds Inc

US - Securities + Commission - 3 March 2005 - LAWFUEL - The Law News Network - The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 ("Exchange Act"), of over-the-counter trading of the securities of CMKM Diamonds, Inc. (Pink Sheets symbol "CMKX"), also known as Casavant Mining Kimberlite International, Inc., of Las Vegas, Nevada. The suspension will commence at 9:30 a.m. EST, March 3, 2005, through 11:59 p.m. EST, on March 16, 2005.


The Commission temporarily suspended trading in the securities of CMKM Diamonds because of questions that have been raised about the adequacy of publicly available information concerning, among other things, CMKM Diamonds' assets and liabilities, mining and other business activities, share structure and stock issuances, and corporate management. Since the fiscal year ending December 31, 2002, CMKM Diamonds has been delinquent in its periodic filing obligations under Section 13(a) of the Exchange Act. The Commission is concerned that CMKM Diamonds may have unjustifiably relied on a Form S-8 to issue unrestricted securities. The Commission is also concerned that CMKM Diamonds and/or certain of its shareholders may have unjustifiably relied on Rule 144(k) of the Securities Act of 1933 ("Securities Act") in conducting an unlawful distribution of its securities that failed to comply with the resale restrictions of Rules 144 and 145 of the Securities Act.



The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by CMKM Diamonds.



Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to the securities of CMKM Diamonds until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation for the stock of CMKM Diamonds that is in violation of the rule, the Commission will consider the need for prompt enforcement action. For questions related to the operation of Rule 15c2-11, please contact the Division of Market Regulation at (202) 942-0069.



If any broker, dealer or other person has any information that may relate to this matter, please contact the CMKM Diamonds Investor Line of the Pacific Regional Office of the Securities and Exchange Commission at (323) 965-4519 or by email at cmkmdiamonds@sec.gov.

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