Corumel Minerals Corp.: Negotiations for Share Acquisition.Business Editors WOLLERAU, Switzerland--(BUSINESS WIRE)--April 1, 2004 Corumel Minerals Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CORU CORU Coordinadora de Organizaciones Revolucionarias Unidas (Coordination of United Revolutionary Organizations) CORU Clinical Operational Research Unit ) announces that there has been a change in management effective April 1, 2004. Baron Bernhard von Wullerstorff-Urbair has been appointed as the new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Corumel. Also, Professor Dr. Edwin Meier has been appointed the new CFO See Chief Financial Officer. of Corumel and Solicitor Peter Christen chris·ten tr.v. chris·tened, chris·ten·ing, chris·tens 1. a. To baptize into a Christian church. b. To give a name to at baptism. 2. a. has been appointed the new Secretary and Vice-President of Corumel. These three distinguished gentlemen were also appointed as directors to the company's board of directors, replacing the previous board of directors, who all resigned effective April 1, 2004. Baron von Wullerstorff-Urbair has been an architectural engineer since 1968 and is currently the CEO of PWM (Pulse Width Modulation) A modulation technique that generates variable-width pulses to represent the amplitude of an analog input signal. Like its fixed-width pulse density modulation (PDM) cousin, the output switching transistor is on more of the time for a AG. Professor Meier has been the Dean at the SBS Swiss Business School SBS Swiss Business School is a private business school located in Zurich, the main commercial and cultural center of Switzerland. SBS Swiss Business School is specialized within the field of Business Administration offering BBA, MBA and DBA degrees as well as business courses. since 1993 and is currently the President and a professor at the SMA (1) See SMA connector. (2) (Shared Memory Architecture) See shared video memory. (3) (Software Maintenance Association) A membership organization that began in 1985 and ended in 1996. Swiss Management Academy. Mr. Christen has been an independent business consultant since 1995 and was a lawyer prior to that for 35 years focusing on construction law. Also, there was a change in control in the voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of Corumel. Bruce Young, who is the past president of Corumel, sold all of his 5.5 million restricted common shares in a private transaction with nine purchasers. One of the purchasers, PWM AG, acquired 2,910,580 restricted common shares from Mr. Young. PWM AG beneficially now owns a control position in the voting shares of Corumel. Currently, there are no other shareholders that beneficially own 5% or more of the issued and outstanding shares. PWM AG is an internationally active investment and consulting enterprise with registered office and administration center in Wollerau, Switzerland. The focus of its activities is on structuring and financing companies. PWM AG's stock portfolio includes investments in raw material suppliers dedicated to the exploitation of crude oil and natural gas deposits or producers of precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. . Furthermore, the company has significant shareholdings in the rapidly growing IT sector. Currently, management of PWM AG consists of Baron von Wullerstorff-Urbair as the CEO, Professor Meier as the CFO and Mr. Christen as the Vice-President. Corumel has also entered into negotiations with the sole shareholder of PWM AG for the acquisition of a 100% interest in PWM AG. Corumel has offered to issue 1 million restricted common shares at $0.10 per share to a current shareholder, Tsunami Capital Ltd., for the acquisition of all of the issued and outstanding shares in the capital of PWM AG. If Tsunami Capital Ltd. accepts the offer it will own 13% of Corumel. As a result in the change of business, management will soon be seeking shareholder approval to change the name of the company to "PWM Holding Corp.", which management intends to have effective in early May 2004. Approved by the Board of Directors: CORUMEL MINERALS CORP. Per: /s/ Baron Bernhard von Wullerstorff-Urbair Baron Bernhard von Wullerstorff-Urbair, President NR#04-01 For more information, contact Corumel Minerals Corp. at office@pwma-ag.org or visit its website at www.pwm-ag.org or the U.S. Securities & Exchange Commission's website at www.sec.gov/ to review the Corumel's latest filings. This release contains certain statements that are "forward-looking" statements (as the term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Any such forward-looking statements are inherently speculative and are based on currently available information, operating plans and projections about future expectations and trends. As such, they are subject to numerous risks and uncertainties, such as general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, and other factors over which Corumel Minerals Corp. has little or no control. Actual results and performance may be significantly different from expectations or trends expressed or implied by such forward-looking statements. Corumel Minerals Corp. expressly disclaims any obligation to update the statements contained in this release. |
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