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