|By Marketwired .||
|February 28, 2014 03:43 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/28/14 -- Continental Precious Minerals Inc. ("Continental" or the "Company") (TSX: CZQ) announces that it has commenced a lawsuit against Iftikhar Malik in which Continental seeks the return of approximately $189,000 from him. The former CEO of Continental, Ed Godin, caused Continental to improperly make monthly payments, in an amount equal to Mr. Godin's salary, to Mr. Malik from approximately November 2011 until December 2012. Continental understands that Mr. Malik owns and operates an appliance sales and service business. Last year, via registered mail, Continental requested an explanation for the payments from Mr. Malik and received no response from him at all.
Continental's legal proceeding against Mr. Godin, which includes a claim related to these improper payments to Mr. Malik, is continuing.
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Continental Precious Minerals Inc.
Chairman & CEO
+1 647 476 9226 ext 6