VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (symbol KRY on TSE and AMEX) announced that it has exercised warrants to acquire 542,860 common shares at CDN $0.16 per share, thereby increasing its holdings in First Choice Industries Ltd. (symbol FSD on CDNX) to 1,685,720 shares, representing approximately 11 % of the First Choice outstanding shares.
The warrants exercised by Crystallex were acquired in March of 2000, through a private placement by First Choice. In addition to the common shares Crystallex continues to hold warrants to acquire 600,000 common shares at CDN $0.16 per share with an expiration of March 21, 2002. Crystallex acquired the additional shares in First Choice for investment purposes, and has no present intention to acquire any additional shares at this time.
Crystallex International Corporation is a gold mining and exploration company. The Company's strategy for growth is to develop its portfolio of properties in South America as well as to diversify geographically by investing in producing or near-production projects and by exploring properties of merit in other areas of the world.
On Behalf of the Board:
Marc J. Oppenheimer, President & CEO
Note:
This news release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Crystallex, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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