LAS VEGAS, Aug. 4, 2005 (PRIMEZONE) -- The new management of Capitol Silver Mines, Inc. (formerly known as Internet Culinary Corporation) (the "Company") (Pink Sheets:ICUL) announced today that, in accordance with an order of the United States District Court for the Central District of California, approximately 14,000,000 shares of common stock of the Company have been canceled and the Company has received a judgment of approximately $6,200,000. The cancellation of shares and the judgment are the result of almost six years of litigation by Brett Salter against the Company's former Board of Directors including Mervyn Phelan, Stephen Reeder, Craig Brown, Bo Phelan, Tom Reichman, Scott Brake, Kevin Grace and Bob Coberly.
In accordance with the Court's order, shares issued to the Defendants and their affiliates (which may include shares held by various brokerage firms and the Depository Trust Company) have been canceled. The Company urges sellers of shares of common stock to confirm with the Company's transfer agent, First American Stock Transfer, Scottsdale, Arizona (telephone number: 602-485-1346) with respect to shares in their possession.
The Company further announced that Brett Salter has been elected President and that it has established new offices in Las Vegas, Nevada at 3650 Jewel Cave Drive, Las Vegas, Nevada, 89122 (fax number: 512-930-2227) and in Georgetown, Texas.
Mr. Salter stated that over $1,000,000 of the judgment awarded the Company has been received and it is anticipated that additional sums will be collected. He further stated that special thanks are due to the law firm of Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro and Mark G. Krum, who prosecuted the action on behalf of the Company and against the former directors. In accordance with the Court's order, the name of the Company has been changed from Internet Culinary Corporation to its former name of Capitol Silver Mines, Inc.
Mr. Salter stated that the Company is seeking to acquire or merge with a private company and that it is investigating a number of candidates. Following the completion of an acquisition or merger it is anticipated that the Company will change its name and will take action to qualify for trading on NASDAQ.
For further information please contact Brett Salter, President 512-930-2223
Statements contained in this release which are not historical facts may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not a guarantee of future performance. Unknown risks, uncertainties, as well as other uncontrollable or unknown factors could cause results to materially differ from the results, performance, or expectations expected or implied by such forward-looking statements.