JINCHANG, Gansu, CHINA, April 29 /CNW/ - Jinchuan Group Ltd. and JinQing
Mining Investment Limited (collectively "Jinchuan") reports that it has acquired ownership of 147,661,327 common shares
(the "Shares") in the capital of Continental Minerals Corporation ("Continental") pursuant to a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) and approved by the shareholders of Continental on
April 22, 2011. The 147,661,327 Shares acquired by Jinchuan pursuant to
the Arrangement comprise all of the issued and outstanding common
shares of Continental not already held by Jinchuan. Jinchuan acquired
the Shares for consideration of $2.60 per Share.
Jinchuan desired to acquire all of the Shares of Continental.
Immediately prior to the Arrangement, Jinchuan directly or indirectly,
owned 10.9 percent of the Shares. The Shares will be delisted from the
TSX Venture Exchange and Continental will apply to cease to be a
Jinchuan Group Ltd.
737103, People's Republic of China
Attention: Sanlin Zhang, Vice President
Facsimile No.: +86 935 8811612
SOURCE Jinchuan Group Ltd.
For further information:
or to obtain a copy of the early warning report, please contact Jinchuan Group Ltd. at +86 935 8811111.