Exhibit 99.1 - Press Release
For Immediate Release
Consolidated Capital of North America, Inc.
Announces Adjournment of Special Meeting of Shareholders Due to Lack of Quorum
Denver, Colorado, June 6, 2000. Consolidated Capital of North America, Inc.
(OTC: CDNO) announced today that a Special Meeting of Shareholders held
yesterday was adjourned until 2:00 p.m., on Monday, June 12,
2000 due to a lack of quorum.
The sole purpose of the Special Meeting is to vote on a proposal by the Company
to increase the Company's number of authorized shares of common stock from the
current number of 200,000,000 to 850,000,000. If approved by the shareholders,
the increased number of authorized shares would be used to continue to pursue
the Company's previously announced debt for equity exchange, and to pursue
financing opportunities that may appear in the future.
The vote of the proxies received prior to the meeting on June 5, 2000, were as
follows:
Votes For 97,638,998
Votes Against 1,383,972
Abstain 130,900
Statements made in this press release may constitute forward-looking statements
and are subject to numerous risks and uncertainties relating to the Company's
lack of assets, operations and working capital. Therefore, the actual results of
actions described above may differ materially from those anticipated in this
press release.
Contact:
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Megan McCloskey
Investor Services
888-313-8051
