In Re Camarines Minerals, Inc.

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 heirs. 4. The company no longer qualifies as a public company, having total assets of Twenty Two Million Two Hundred Forty Four Thousand Eight Hundred Ninety One Pesos (P22,244,891.00) and sixty (60) shareholders, and is not listed on any Exchange. 5. In a special meeting of the company's Board of Directors held on 02 March 2016, it was resolved to voluntarily revoke or cancel the registration of its securities with the Commission. Finding the instant Petition to have fully complied with SRC Rule 13, the Commission, in its meeting held on 02 March 2017, resolved to GRANT the company's request for voluntary revocation of its Registration of Securities and Certificate of Permit to Sell Securities subject to the following conditions: AcICHD 1) Publish once in a newspaper of general circulation an information regarding the revocation of CAMARINES MINERALS, INC.'s Registration of and Certificate of Permit to Sell Securities within five (5) days from the receipt of notice from the Commission of the revocation of its registration and permit; 2) Submit an Affidavit of Publication of the notice in a newspaper of general circulation with a copy of the newspaper within five (5) days from the time the notice is published; and 3) Comply with the reporting requirements of the Commission under the Corporation Code. SO ORDERED. March 7, 2017, Pasay City. (SGD.) JUSTINA F. CALLANGAN Director