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| | Mon Feb 5, 2007
Continental Increases Financing To $25 Million
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| | February 5, 2007, Vancouver, BC - Gerald S. Panneton, President and CEO of Continental Minerals Corporation ("Continental" or the "Company") (TSX Venture: KMK; OTCBB: KMKCF) announces that Continental has reached agreements in principle to increase the gross proceeds to be raised under the private placement, announced in the Company's press release of January 30, 2007, to $25 million. The financing is subject to execution of definitive agreements and TSX Venture Exchange acceptance, as well as to the receipt of all required approvals from applicable regulatory authorities, including those relating to currency exchange and controls in the People's Republic of China. The securities will be subject to a four month hold period commencing on the date of closing under applicable Canadian securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. 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.
Proceeds from the placement will be used to fund the completion of the Xietongmen feasibility study and Environmental Impact Assessment (EIA); a 10,000 meter exploration drilling program designed to define the exciting Newtongmen discovery (announced on November 28, 2006); and for general working capital purposes.
Gerald Panneton
President & CEO
Continental Minerals Corporation
For further information:
Continental Minerals Corporation
Tel 604 684-6365
Toll Free 1 800 667-2114
www.continentalminerals.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the merger, acquisition of additional property, exploration drilling, exploitation activities and events or developments that the companies expect are forward-looking statements. Although the companies believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
For more information on Continental Minerals Corporation, Investors should review Continental's annual Form 20-F and the Form F-4 filings with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com. |
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| | You can view the Next News Releases item: Mon Feb 12, 2007, Continental'S $25 Million Financing Over-Subscribed, Increased By $12 Million
You can view the Previous News Releases item: Tue Jan 30, 2007, Continental Arranges Cdn$20 Million Financing
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