Tue Oct 20, 2009 Continental Completes $25 Million Financing
October 20, 2009, Vancouver, BC - Continental Minerals
Corporation ("Continental" or the "Company") (TSX Venture: KMK;
OTCBB: KMKCF) announces that the Company has completed the
previously announced private placement financing, issuing 23,364,486
common shares (the "Shares") at a price of $1.07 per Share for gross
proceeds of $25 million. The Shares are subject to a four-month hold
period under applicable Canadian securities legislation.
Proceeds shall principally be used for engineering and
development of the Xietongmen Project in China and for general
corporate purposes. A commission within regulatory guidelines was
paid on the financing.
The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered
or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration requirements
is available.
Continental President and CEO David Copeland commented, "We
are pleased to complete this financing, which brings the Company
closer to its goal of building a modern, well-engineered copper-gold
mine that integrates international standards and contributes
positively to the economic development of the region."
For additional details on Continental and the Xietongmen
Copper-Gold Project, please visit the Company's website at
www.continentalminerals.com or contact Investor Services at (604)
684-6365 or within North America at 1-800-667-2114. On behalf of the
Board of Directors
David Copeland President & CEO
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1020 - 800 West Pender
Street, Vancouver BC Canada V6C
2V6 Telephone: 604-684-6365 Facsimile:
604-684-8092 TollFree: 1-800-667-2114