Crystallex Intl Corp : Crystallex Informed of TSX Listing Review
11/24/2011| 09:35am US/Eastern
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TORONTO, ONTARIO--(Marketwire - Nov. 24, 2011) - Crystallex
International Corporation (TSX:KRY)(OTCQB:CRYXF)
("Crystallex" or the "Company") reported
that it has received a letter from the Toronto Stock Exchange
("TSX") regarding Crystallex's eligibility for
continued listing on the TSX.
On October 5, 2011, the Company received a letter from the
Compliance and Disclosure department of the TSX requesting
that the Company provide information regarding its current
operating activities as part of a fact-gathering process
related to meeting the TSX's continuous listing
requirements. The letter stated that if the TSX determines
that the Company has discontinued a substantial portion of
its business, the Company will be required to meet the
original listing requirements ("OLR") of the TSX.
If the Company fails to provide an acceptable plan to the TSX
of how it intends to meet the OLR in the short term, the TSX
will initiate a delisting review. On November 11, 2011, the
Company provided its response and a plan to the TSX regarding
the Company's efforts to maintain compliance and continue
its listing on the TSX.
On November 23, 2011, Crystallex received a letter from the
TSX advising the Company that the TSX was reviewing the
eligibility for continued listing on TSX of the common shares
of the Company pursuant to Part VII of the TSX Company
Manual, under the Expedited Review Process as described in
Section 707(b) of the TSX Company Manual. The Continued
Listing Committee of the TSX has scheduled a meeting for
December 5, 2011, to consider whether or not to suspend
trading in and delist the common shares of the Company.
There can be no assurance that the Company will be able to
meet the OLR and may be delisted. Management is evaluating
alternative listing options. Crystallex shares trade in the
US on the OTCQB market.
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. The Company continues to
evaluate mining projects in which it can bring additional
expertise to create value for the participants.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS: Certain
statements included or incorporated by reference in this
Press Release, including information as to the future
financial or operating performance of the Company and its
subsidiaries, constitute forward-looking statements. The
words "will", "believe",
"expect", "anticipate",
"contemplate", "target",
"plan", "intends", "continue",
"budget", "estimate", "may",
"schedule" and similar expressions identify
forward-looking statements. See "Risk Factors"
section of the Company's MD&A. 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. 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.
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
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