Crystallex Prices Cdn$100 million Equity Financing.Business Editors TORONTO--(BUSINESS WIRE)--March 18, 2004 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. (AMEX AMEX See: American Stock Exchange :KRY KRY Crystallex International Corporation (stock symbol) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :KRY) announced today that in connection with its previously announced filing of a preliminary short form prospectus with the securities regulatory authorities in Ontario, British Columbia, Alberta, Manitoba, Nova Scotia and Newfoundland and Labrador Newfoundland and Labrador, province, Canada Newfoundland and Labrador (ny  `fənlənd, ny in respect of an offering of common shares, it has entered into an agreement with a syndicate of underwriters pursuant to which the underwriters have agreed to purchase 25 million common shares of Crystallex at a price of Cdn$4.00 per common share for gross proceeds to Crystallex of Cdn$100 million. The underwriters also have a 15% over-allotment option exercisable for a period of 30 days from the closing of the offering. The offering is scheduled to close on or about April 5, 2004. Crystallex plans to use the net proceeds from the financing to fund predevelopment costs at the Las Cristinas Project in Venezuela and capital expenditures and development costs at Crystallex's existing operations. The offering is subject to certain conditions including, but not limited to, the entering into by Crystallex and the underwriters of an underwriting agreement and the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . This press release is not an offer to sell or the solicitation of an offer to buy the common shares, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The common shares being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such common shares may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements. The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release. |
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