By Sheri Kasprzak
New York, Jan. 18 - Crystallex International Corp. has negotiated a $31,317,100 private placement.
The company intends to sell 10,799,000 units at $2.90 each.
The units consist of one share and one warrant for 1.512 shares. The full warrants are exercisable at $4.50 each for 18 months, beginning the later of 61 days after the offering closes or 45 days after the receipt of a permit for the company's Las Cristinas project in Venezuela.
Proceeds will be used for the development of the Las Cristinas project, the repayment of existing debt and general corporate purposes.
The non-brokered deal is slated to close on Jan. 25.
Crystallex, based in Toronto, is a gold exploration company.
| Issuer: | Crystallex International Corp.
|
| Issue: | Units of one share and one warrant for 1.512 shares
|
| Amount: | $31,317,100
|
| Units: | 10,799,000
|
| Price: | $2.90
|
| Warrants: | One warrant for 1.512 shares per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $4.50
|
| Placement agent: | Non-brokered
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 25
|
| Stock symbol: | AMEX: KRY
|
| Stock price: | $2.64 at close Jan. 17
|
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