March 7, 2017
SEC-CGFD ORDER NO. 030-17
IN THE MATTER OF CAMARINES MINERALS, INC.
PETITION FOR VOLUNTARY REVOCATION OF THE REGISTRATION OF SECURITIES AND CERTIFICATE OF PERMIT TO SELL SECURITIES
ORDER OF REVOCATION
Submitted for consideration of the Commission En Banc is the Petition for Voluntary Revocation of the Registration of Securities and Certificate of Permit to Sell Securities filed by CAMARINES MINERALS, INC. praying that the Registration of and Certificate of Permit to Sell Securities be revoked pursuant to SRC Rule 13.2 AScHCD
The company cited the following as bases for the grant of the Petition:
1. The company has only sixty (60) shareholders. Fifty percent (50%) of its outstanding capital stock is held by Marsman Drysdale Foundation, Inc., 49.6% is held by 14 other stockholders and the remaining 45 stockholders hold the remaining 0.4%.
2. It does not intend to further sell any shares to the public as it had no mining activity since 1998.
3. It has not sold new shares to the public for more than twenty (20) years. There are only transfers of shares between original stockholders and their...
