TO ALL:
Attention Business Editor:
CRYSTALLEX RESPONDS TO REPORTS
VANCOUVER, British Columbia, Nov. 26 /CNW/ -- Responding to a
published report today that recounts previously disclosed information
regarding insider sales of Crystallex International shares, Crystallex
International Corporation (Amex: KRY; Toronto: KRY.) issued the following
statement:
"Published reports today create an incomplete, and thus inaccurate,
picture of previously disclosed transactions regarding the investment position
of Crystallex President & CEO Marc J. Oppenheimer. Mr. Oppenheimer retains an
exerciseable option position equivalent to more than 1 million shares of
Crystallex common stock. More than two months ago, as was widely reported at
that time, Mr. Oppenheimer exercised a fractional portion of his option
position, and sold 108,000 shares of Crystallex stock. Management and
Directors at present control in excess of 5.5 million Crystallex shares in
stock and options."
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.
Note: This news release includes 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 this release and does not
accept responsibility for the adequacy or accuracy of this news release.
-0- 11/26/97
For further information: A. Richard Marshall, VP, 800-738-1577 or Andrea Boltz, 604-683-0672, both of
Crystallex
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