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.
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.
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.