Crystallex (KRY) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Crystallex (KRY)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: viper who wrote (6028)	3/4/1998 3:02:00 PM
From: Paul Lee	Read Replies (2) of 10836

Statement By Crystallex International Corporation VANCOUVER, British Columbia, March 4 /PRNewswire/ -- Crystallex International Corporation (Amex: KRY)(Toronto: KRY.) today announced that it has instructed legal counsel to commence proceedings against Asensio & Company Inc. for disseminating false and misleading statements about Crystallex and its officers. Crystallex chairman Robert Fung categorically denied Asensio's unsubstantiated allegations contained in a report dated March 4, 1998 that asserts Crystallex has "no direct or indirect interest or claim to Las Cristinas gold concessions." "We are outraged at any suggestion that Crystallex is disseminating false or misleading information in order to defraud investors and categorically and unequivocally deny the allegation," Fung said. "We note that the report makes serious allegations unsupported by facts, and then includes a disclaimer that 'Opinions expressed are subject to change without notice' and that 'accuracy in not guaranteed.' We have since learned that Asensio is a notorious short seller. Short sellers have a direct financial interest in depressing the price of the stock of companies they target." Fung said Crystallex will pursue the matter with securities commissions and regulatory bodies in the United States and Canada, including the Toronto Stock Exchange and the American Stock Exchange. Crystallex has retained the services of Cleary Gottlieb Steen Hamilton of New York with instructions to initiate proceedings against Asensio for its false and misleading statements and its efforts to manipulate the market in Crystallex's stock. "Asensio has apparently decided that its writers are better placed to adjudicate Venezuelan law than the Supreme Court of Venezuela," Fung said. "For our part, the officers and board of directors of Crystallex have always had complete confidence in Venezuela's legal system and its Supreme Court of Justice. We do note for the record that our motions to enforce ownership rights over the Las Cristinas 4 & 6 gold mining concessions in Venezuela are before the Political Administrative Chamber of the Venezuelan Supreme Court."

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next