Continental sets April 29 for completion date of acquisition

Continental Minerals Corporation (TSXV:KMK,OTC:KMKCF) reports that it has set April 29 as the date for its acquisition by Jinchuan Group Ltd.

The press release is quoted as saying,

Under the terms of the Arrangement, the Company intends to declare a dividend as part of the Arrangement (the “Arrangement Dividend”) and estimates that the Arrangement Dividend will be $0.10 per common share. Once formally declared, the Arrangement Dividend would be paid to shareholders of record on April 28, 2011 plus to holders of options which are exercised conditional on the Arrangement completing on April 29, 2011. Accordingly the common shares will trade ex-dividend commencing at the opening of the market on April 26th meaning that common shares purchased on or after April 26th will participate in the Arrangement assuming it completes, but will not participate in the Arrangement Dividend.

For the complete press release, click here.