Crystallex commences production and completes CDN$5.1 million financing.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 1, 1994 --Crystallex International Corporation (the "Company") is pleased to announce the commencement of production from its 400 TPD TPD Tons Per Day TPD Therapeutic Products Directorate TPD Total and Permanent Disablement (insurance) TPD Temperature Programmed Desorption TPD Temporary Partial Disability (insurance) processing mill at its Albino albino (ălbī`nō) [Port.,=white], animal or plant lacking normal pigmentation. The absence of pigment is observed in the body covering (skin, hair, and feathers) and in the iris of the eye. concession in the Kilometre 88 District in Venezuela. The processing mill is currently in the start-up phase of production and the Company expects that it will achieve full production levels within the next four to six weeks. The Company is also pleased to announce that it has completed the CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $4.0 million private placement financing announced September 13, 1994 and the CDN$1.1 million private placement financing announced September 16, 1994. Part of the proceeds will be used for a 1500 meter drilling program that the Company has commenced on the Albino concession which is designed to delineate additional shallow reserves in three open pitable zones. The Company also announces that it has, subject to regulatory approval, granted stock options to certain directors, employees and consultants of the Company, to purchase up to 207,000 shares of the Company at a price of $3.00 per share, expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. on November 1, 1999. -0- On Behalf of the Board: PHILIP R. LACERTE Director and Chairman THE VANCOUVER STOCK EXCHANGE Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE. CONTACT: Philip R. Lacerte, Director and Chairman, 604/683-0672 |
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