Bolivar Announces Release of Escrow re Sale of Venezuelan Assets.Business Editors TORONTO--(BUSINESS WIRE)--Aug. 15, 2000 Bolivar Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVG BVG Bundesverfassungsgericht (highest German court) BVG Bureau du Vérificateur Général du Canada (auditor general) BVG Best Value Guarantee BVG Berliner Verkehrs Gesellschaft BVG Borrowdale Volcanic Group .) announced today that Crystallex International Corporation Crystallex International Corporation (TSX: KRY, AMEX: KRY) is a Canadian corporation engaged in gold mining and exploration. It operates open-pit mines and exploration sites in Venezuela. has finalised its banking arrangements relating to the purchase of all of Bolivar's Venezuelan assets. As a result, the purchase price of US$20 million, consisting of US$7 million in cash and promissory notes and the assumption by Crystallex of US$13 million in bank debt, has been released from escrow and all assets transferred to Crystallex. With the completion of the sale of its Venezuelan assets, Bolivar is free of bank debt and can now focus on completing its transformation into a technology-based company. Bolivar has maintained contact with the shareholders of Champion Computer Corporation and expects to make a revised offer to Champion in the near future. Champion Computer Corporation specializes in providing the IT infrastructure for Web-based companies, Fortune 1000 corporations and the midsize business market. Champion has formed a relationship with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) to create a dedicated IBM storage solutions practice, known as "Time to Content(TM)", which allows ISPs, ASPs and business customers to meet their rapidly growing storage and content needs by providing IBM storage, servers and software that connect to other, nationally available, non-IBM servers. If an acquisition is completed, Bolivar intends to dedicate its resources to building and developing a Storage Services Provider ("SSP (1) (Service Switching Point) The local exchange node in an SS7 telephone network. The SSP can be part of the voice switch or in a separate computer connected to it. ") practice around Champion's "Time to Content(TM)" methodologies. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. |
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