Crystallex International Corporation Press Releases

Crystallex Reaches Agreement in Principle on Settlement with the SEC

Wed, 01 May 2013 10:33:00 -0400

TORONTO, ONTARIO--(Marketwired - May 1, 2013) - Crystallex International Corporation ("Crystallex" or the "Company") announced today that it had reached a settlement with the U.S. Securities and Exchange Commission (the "SEC") in which Crystallex will consent to an order revoking its registration under the Securities Exchange Act of 1934 (the "Act").

The settlement follows the commencement by the Division of Enforcement of the SEC of administrative proceedings against Crystallex seeking to revoke Crystallex's registration under the Act as a result of failures by Crystallex to comply with certain of its filing requirements under the Act (the "SEC Administrative Proceeding"). Notwithstanding the revocation of the registration, Crystallex will not be prevented from reapplying for registration under the Act in the future.

About Crystallex

Crystallex International Corporation is a Canadian based mining company, with a history of acquiring, exploring, developing and operating mining projects. Crystallex has successfully operated an open pit mine in Uruguay and developed and operated three gold mines in Venezuela. The Company's principal asset is its international claim in relation to its investment in the Las Cristinas gold project located in Bolivar State, Venezuela.

Visit us on the Internet: www.crystallex.com or email us at: info@crystallex.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain statements included in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial and political uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.

Contact Information:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall
VP
(800) 738-1577

info@crystallex.com
www.crystallex.com

Crystallex Files 2011 Audited Financial Statements and MD&A

Mon, 16 Jul 2012 07:59:00 -0400

TORONTO, ONTARIO--(Marketwire - July 16, 2012) - Crystallex International Corporation (OTCBB:CRYFQ) ("Crystallex" or the "Company") announced today that it has filed under the Company's profile at www.sedar.com its audited financial statements for the fiscal year ended December 31, 2011 and the related management's discussion and analysis. In addition, the Company has filed, in lieu of a management information circular in respect of its 2011 fiscal year, an information document that contains information substantially similar to that required to be set out in a management information circular, including disclosure regarding the board of directors, executive and director compensation and corporate governance practices. The Company will also file a Form 20-F and CEO and CFO certificates related to its annual filings in the near term. The 2011 audited financial statements, MD&A and information document will be mailed within the next few weeks to shareholders of record on the record date of July 16, 2012.

About Crystallex

Visit us on the Internet: http://www.crystallex.com or Email us at: info@crystallex.com

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the Company completing and filing its Form 20-F and the mailing of documents to the Company's shareholders. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's management's discussion and analysis of financial position and results of operations for the fiscal year ended December 31, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Contact: Richard Marshall, VP
Company Name: Crystallex International Corporation
Contact Title: Investor Relations
Phone: (800) 738-1577
Other1: info@crystallex.com
Other2: www.crystallex.com

Crystallex Draws Down Second Tranche of DIP Facility and Announces Appointment of Two Directors

Wed, 27 Jun 2012 15:01:00 -0400

TORONTO, ONTARIO--(Marketwire - June 27, 2012) - Crystallex International Corporation (OTCQB:CRYFQ) ("Crystallex" or the "Company") announced today that it has drawn down an additional amount of US$8 million (for an aggregate total of US$21 million) under the terms of the credit agreement (the "Credit Agreement") governing the Company's debtor-in-possession US$36 million term loan facility provided by an entity managed by Tenor Capital Management Company LP (together with any successors, assigns or transferees as permitted, the "Lender"). These funds will be used to fund the Company's operations, including the prosecution of its arbitration claim against the government of Venezuela.

As disclosed on April 23, 2012, as a result of such draw down, the Company has provided to the Lender, in accordance with the provisions of the Credit Agreement and a conversion and voting agreement, additional compensation which is dependent on the amount of the net proceeds realized from an award or settlement in respect of the Company's arbitration with the government of Venezuela and which, at the option of the Lender, could be converted into up to 35% of the equity of the Company.

In addition, the Credit Agreement requires certain changes to the governance of Crystallex. The Lender has been provided with the right to appoint 2 of the 5 directors of the Company, and as a result Mr. Michael Brown and Mr. Johan C. van't Hof, each of whom voted in favor of the Credit Agreement, have voluntarily resigned from the Board in order to enable Mr. Robin Shah and Mr. David Kay, the nominees of the Lender, to join the Board.

Mr. Shah founded Tenor Capital when the firm was spun off from Putnam Lovell NBF (PLNBF) in July 2004. Mr. Shah joined PLNBF in July 2003, from JP Morgan, to establish a proprietary trading relative value convertible arbitrage effort. At J.P. Morgan, Mr. Shah was a senior trader in the proprietary Convertibles and Relative Value Group. Prior to joining the Convertibles and Relative Value Group, Mr. Shah was a member of the Equity Derivatives Research team, the Fixed Income Derivatives Trading team, and the Fixed Income proprietary trading group at J.P. Morgan. Mr. Kay joined Tenor in October of 2009. Previously, Mr. Kay worked at Jefferies & Company as a senior associate in the Restructuring and Recapitalization Group and at Akin Gump Strauss Hauer & Feld as an attorney in the Financial Restructuring Group.

The Board has appointed Harry Near as "Designated Director" and has delegated certain powers to him, including the conduct of the proceedings under the Companies' Creditors Arrangement Act and certain related matters. However, before making any decision regarding such delegated matters, Mr. Near will be required to consult with the newly established Advisory Panel of the Company. The members of the Advisory Panel are Messrs. Near, Brown and van't Hof. Mr. Near has agreed to serve as the Designated Director for a minimum period of three months. The Board has also agreed that certain transactions will be subject to the approval of the Board, including the approval of one of the Lender's nominees. Additional information relating to the Credit Agreement and these governance matters (including a copy of the Credit Agreement) are available at www.sedar.com under the Company's profile and on the monitor's website at www.ey.com/ca/crystallex.

Mr. Fung, the Chairman and Chief Executive Officer of Crystallex stated, "I wish to thank Michael and Johan for their selfless service to Crystallex as directors and I am pleased that they will continue to provide the Company with their valuable advice as members of the Advisory Panel". He also noted that, "Crystallex will be well served by having Robin Shah and David Kay as directors as their experience and knowledge will prove helpful to the Company as it seeks to recover value from its Las Cristinas investment."

Crystallex also announced that the shareholder rights plan agreement (the "Rights Plan") dated as of June 22, 2006 with CIBC Mellon Trust Company, as rights agent, which was last reconfirmed by the shareholders of the Company at a shareholders' meeting held on June 24, 2009, will terminate on June 30, 2012. In light of the fact that the Company has obtained a Court order to delay its annual shareholders' meeting, the shareholders of the Company will not be able to reconfirm the Rights Plan as required, and therefore the Rights Plan will terminate. The Company's shareholder rights plan agreement of March 16, 2012 remains in force.

About Crystallex

Crystallex International Corporation is a Canadian based mining company, with a focus on acquiring, exploring, developing and operating mining projects. Crystallex has successfully operated an open pit mine in Uruguay and developed and operated three gold mines in Venezuela. The Company's principal asset is its international claim in relation to its investment in the Las Cristinas gold project located in Bolivar State, Venezuela.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the Company obtaining a successful result in connection with the arbitration. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Investor Relations Contact:
Crystallex International Corporation
Richard Marshall , VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Crystallex Obtains a Court Order to Delay Its Annual Meeting and Announces the Dismissal of the Appeal of Its DIP Financing

Mon, 18 Jun 2012 11:51:00 -0400

TORONTO, ONTARIO -- (MARKETWIRE) -- 06/18/12 -- Crystallex International Corporation (OTCBB:CRYFQ) ("Crystallex" or the "Company") announced today that it has obtained a court order which allows it to delay holding its annual meeting pending a further order of the Court. Crystallex filed for creditor protection in Canada on December 23, 2011.

In lieu of issuing a management information circular in respect of its 2011 fiscal year at this time, Crystallex will prepare and file with applicable Canadian securities regulatory authorities, and will also distribute to its shareholders, an information document that will contain information substantially similar to that required to be set out in a management information circular, including disclosure regarding the board of directors, executive and director compensation and corporate governance practices. The information document will be filed on SEDAR at www.sedar.com under the Company's profile and is expected to be mailed to shareholders (together with the Company's audited fiscal 2011 financial results) later this year.

The Company is also pleased to announce that the Court of Appeal (Ontario) has dismissed the appeal by the holders of the Company's $100,000,000 unsecured notes of the orders made by the Ontario Superior Court of Justice (Commercial List) on April 16, 2012 (refer to Crystallex's press release of April 23, 2012) approving the Company's debtor-in-possession financing (the "DIP Financing") and the Company's Management Incentive Plan. The orders approving the DIP Financing and the Management Incentive Plan, as well as the endorsement of these orders, are available at the monitor's website at www.ey.com/ca/crystallex. The noteholders have advised the Company that it is their intention to seek leave to appeal the decision of the Court of Appeal to the Supreme Court of Canada.

About Crystallex

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Crystallex Announces Court Approval of DIP Financing

Mon, 23 Apr 2012 17:09:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 04/23/12 -- Crystallex International Corporation (OTCQB:CRYFQ) ("Crystallex" or the "Company") announced today that the Ontario Superior Court of Justice (Commercial List) issued an order (the "CCAA Order") approving the Company's debtor-in-possession (DIP) financing of US$36,000,000 provided by an entity managed by Tenor Capital Management Company LLC (together with any successors, assigns or transferees as permitted, the "Lender").

In accordance with the terms of the senior secured credit agreement pursuant to which the DIP financing is expected to be provided (the "Credit Agreement"), an initial tranche of US$9 million would be available on the execution of such agreement and the satisfaction of certain conditions precedent, which funds would allow the Company (i) to repay its previously announced US$3.125 million bridge loan provided by Tenor Special Situations Fund, L.P., which has become due and payable, and (ii) to fund its operations, including the prosecution of its arbitration claim against the government of Venezuela. The Company is diligently working towards the satisfaction of such conditions precedent and as a result expects that the initial advance will be made shortly and in any event by the end of April. Three subsequent tranches of US$12 million, US$10 million and US$5 million each would also be made available upon the Company meeting certain conditions in accordance with the terms of the Credit Agreement and the CCAA Order, as applicable. The holders of the US$100,000,000 unsecured notes issued by the Company have served the Company with a motion for leave to appeal the CCAA Order. The appeal process has been expedited.

If any appeal of the CCAA Order has been dismissed or the period for an appeal of such order has expired, the Credit Agreement would also provide for additional compensation to the Lender which would be dependent on the amount of the net proceeds realized from an award or settlement in respect of the Company's arbitration with the government of Venezuela and which, at the option of the Lender, could be converted into up to 35% of the equity of the Company. In addition, the Credit Agreement would in such circumstances require certain changes to be made to the governance of Crystallex, including changes to the composition of the board of directors of the Company such that the Lender would have the right to appoint 2 of the 5 directors of the Company.

The Court has also approved a discretionary management retention plan of the Company, pursuant to which, upon a successful conclusion of the arbitration with the government of Venezuela, retention amounts may be paid at the discretion of an independent committee. The independent committee can award amounts, depending on certain factors, ranging from zero to a variable cap that cannot exceed ten percent of the amount of any award or settlement after the payment of liabilities of the Company.

Additional information relating to the Credit Agreement and other matters pertaining to the Company's proceeding under the Companies' Creditors Arrangement Act (Canada) is and will be available at www.sedar.com under the Company's profile and on the monitor's website at www.ey.com/ca/crystallex.

About Crystallex

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the Company being able to access the DIP financing, the CCAA Order not being successfully appealed and obtaining a successful result in connection with the arbitration. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company, including the failure by the Company to draw down under the DIP financing facility. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Contacts:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Source: Crystallex International Corporation

Crystallex Announces Temporary Cease Trade Order

Fri, 13 Apr 2012 10:32:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 04/13/12 -- Crystallex International Corporation (OTCQB:CRYFQ) ("Crystallex" or the "Company") announced today that, consistent with its announcement of March 16, 2012, the Company did not file, by the deadline of March 30, 2012, its audited financial statements for the fiscal year ended December 31, 2011, related management's discussion and analysis, 2011 annual information form and CEO and CFO certificates related to the foregoing.

As a result of such default, the Company had applied to the Ontario Securities Commission and the securities regulatory authorities in British Columbia, Alberta, Manitoba, Ontario, Quebec, Nova Scotia and Newfoundland for a management cease trade order under National Policy 12-203 which would have only prohibited trading in securities of the Company by certain insiders of the Company. The Company's application was denied and, accordingly, a temporary general cease trade order has been issued. The cease trade order prohibits the trading of the Company's securities effective immediately, other than for trades made pursuant to debtor-in-possession financing as approved by the Ontario Superior Court of Justice in connection with the proceedings under the Companies' Creditors Arrangement Act (Canada) and trades for nominal consideration to realize tax losses (a copy of the cease trade order can be found at http://cto-iov.csa-acvm.ca/ArticleFile.asp?Instance=101&ID=A0D25FF13A60413FBC816BAC1689C3DC).

The temporary cease trade order is scheduled to expire 15 days from the date hereof and may be extended. The Company is reviewing all options, with the goal of ultimately meeting its continuous disclosure obligations and lifting the cease trade order. The Company's shares continue to trade on the OTC Bulletin Board.

About Crystallex

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Contacts:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Source: Crystallex International Corporation

Crystallex Executes Commitment Letter for DIP Financing

Wed, 21 Mar 2012 20:29:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 03/22/12 -- Crystallex International Corporation (OTCQB:CRYFQ) ("Crystallex" or the "Company") announced today that it has successfully concluded an auction process to raise debtor-in-possession financing in accordance with the procedures approved by Ernst & Young Inc. (the Monitor of the Company) pursuant to the initial order made by the Ontario Superior Court of Justice (Commercial List) (the "Court") under the Companies' Creditors Arrangement Act (Canada) ("CCAA") on December 23, 2011. As a result, the Company has today executed a commitment letter (the "Commitment Letter") provided by Tenor Special Situation Fund I, LLC (the "Lender") pursuant to which the Lender has agreed, subject to certain conditions including the execution of a senior secured credit agreement, to provide US $36,000,000 to the Company. The financing evidenced by the Commitment Letter is also subject to approval of the Court as well as approval of the U.S. Bankruptcy Court. A hearing before the Court has been scheduled for April 5, 2012 to approve the financing evidenced by the Commitment Letter.

Additional information relating to the Commitment Letter and other matters pertaining to the CCAA proceeding is available on the Company's website at www.crystallex.com and on the monitor's website at www.ey.com/ca/crystallex.

About Crystallex

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Contacts:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Source: Crystallex International Corporation

Crystallex Updates Shareholders

Fri, 16 Mar 2012 21:02:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 03/17/12 -- Crystallex International Corporation (OTCQB:CRYFQ) ("Crystallex" or the "Company") announced today that, in light of its financial circumstances, the Company will not be in a position to prepare and file annual audited financial statements and other annual disclosure documents, required by Canadian securities laws in respect of the Company's financial year ended December 31, 2011, by March 30, 2012. Consequently, following March 30, 2012, the Company will be in default of its continuous disclosure filing requirements under Canadian securities laws.

The Company has commenced discussions with the Ontario Securities Commission, its principal Canadian securities regulatory authority, concerning its imminent continuous disclosure filing default.

The Company expects to be in a position to provide greater clarity on this matter within the next two weeks, including whether it will be able to obtain sufficient funds to meet its continuous disclosure obligations and if not the nature of ongoing disclosure that will be provided by the Company.

About Crystallex

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may,""schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Contacts:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Source: Crystallex International Corporation

Crystallex Adopts New Shareholder Rights Plan

Fri, 16 Mar 2012 11:51:00 -0400

TORONTO, ONTARIO -- (MARKET WIRE) -- 03/16/12 -- Crystallex International Corporation (OTCQB:CRYFQ) ("Crystallex" or the "Company") today announced that its Board of Directors (the "Board") has voted to adopt an additional shareholder rights plan (the "New Rights Plan"). The New Rights Plan does not replace the original shareholder rights plan of the Company dated as of June 22, 2006 (the "Existing Rights Plan") which is expected to expire this year. The Board adopted the New Rights Plan because the Existing Rights Plan may not adequately serve the interests of the Company due to the changed circumstances of the Company, including the ongoing dispute between the Company and the Bolivarian Republic of Venezuela which has led to the arbitration case between such entities and the filing for court protection by the Company under the Companies' Creditors Arrangement Act (Canada) ("CCAA").

The New Rights Plan is not being adopted in response to any proposal to acquire control of the Company. Under the New Rights Plan, take-over bids which meet certain requirements intended to protect the interests of all shareholders continue to be exempted from the dilutive aspects of the plan and are deemed to be "Permitted Bids". Permitted Bids must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and, among other conditions, must remain open for sixty days.

A copy of the New Rights Plan together with a summary thereof will be available for review under the Company's profile at www.sedar.com, and on the Company's website at www.crystallex.com, by March 19, 2012.

Although the New Rights Plan will take effect immediately, the Company will submit the New Rights Plan for confirmation at the next meeting of shareholders; and the New Rights Plan will expire at the third annual meeting of shareholders thereafter. If the shareholders do not confirm the New Rights Plan at the next meeting of shareholders, the New Rights Plan will terminate and cease to be effective at that time.

About Crystallex

Visit us on the Internet: www.crystallex.com.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

Contacts:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Source: Crystallex International Corporation

Crystallex Updates on Recent Activities

Thu, 26 Jan 2012 10:35:00 -0500

TORONTO, ONTARIO--(Marketwire - Jan. 26, 2012) - Crystallex International Corporation (OTCQB:CRYXF) ("Crystallex" or the "Company") issued today an update regarding activities since obtaining an initial order from the Ontario Superior Court of Justice (Commercial List) for protection under the Companies' Creditors Arrangement Act (Canada) ("CCAA"), dated December 23, 2011.

On December 23, 2011, Crystallex received an initial order from the Ontario Superior Court of Justice granting CCAA protection until January 21, 2012. Under the order, proceedings by creditors or others cannot be continued or commenced without the consent of the Company and Ernst & Young Inc. (the Monitor) or leave of the Court. On January 20, 2012, the Court extended the stay until March 23, 2012. At the same time, the Court approved the terms of an interim bridge loan for Crystallex in the amount of US$3.125 million. The bridge loan is a secured, short term loan, due the earlier of April 16, 2012 or the first draw on a debtor-in-possession ("DIP") financing facility, and is intended to provide the Company with working capital while it continues to pursue DIP financing and progress its arbitration claim.

Crystallex has also commenced a proceeding under chapter 15 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in order to ensure that relevant CCAA orders are enforced in the United States. The U.S. Bankruptcy Court has recognized Crystallex's CCAA proceeding as well as the initial order and subsequent stay extension of the Ontario Superior Court of Justice.

Crystallex Arbitration against Venezuela

At an initial hearing on December 1, 2011 the arbitral tribunal appointed under the rules of the Additional Facility of the International Centre for the Settlement of Investment Disputes ("ICSID") in respect of the Company's arbitration claim agreed upon a schedule of written submissions and set the final oral hearing date. Based upon the schedule set for the claim, Crystallex is obligated to file its first written submission with ICSID on February 10, 2012 and Venezuela's first written submission is due to be filed on August 31, 2012. Both parties will file additional submissions in 2013, Crystallex on January 18, 2013 and Venezuela on June 10, 2013 with the final oral hearing set for November 11-22, 2013 in Washington, D.C.

Court filed documents and other information regarding the CCAA proceedings are available on the Monitor's website at www.ey.com/ca/crystallex.

About Crystallex

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain statements included or incorporated by reference in this press release, including information relating by inference or otherwise to the ability of the Company to secure DIP financing, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the Company obtaining a successful result in connection with the arbitration. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, financial, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile on SEDAR at www.sedar.com (including, in particular, the "Risk Factors" section of the Company's annual information form dated March 31, 2011 and the Company's management's discussion and analysis of financial position and results of operations for the nine month period ended September 30, 2011, incorporated herein by reference) and the documents relating to the CCAA proceedings available on the Monitor's website. Forward-looking statements are made as of the date of this press release, or in the case of documents incorporated by reference herein, as of the date of such document, and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law.

FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations Contact:
Crystallex International Corporation
Richard Marshall, VP
(800) 738-1577
info@crystallex.com
www.crystallex.com

Source: Crystallex International Corporation