Crystallex Intl Prices Unit Offering At C$2.10/Unit >KRY

Last update: 1/25/2008 10:21:11 AM

DOW JONES NEWSWIRES

Crystallex International Corp. (KRY) has priced its previously announced unit offering at C$2.10 a unit, aiming to raise gross proceeds of C$60.06 million (US$59.7 million).

Crystallex will sell 28.6 million units in the offering. It said the syndicate of underwriters is led by Macquarie Capital Markets Canada Ltd.

Each unit consists of one common share and one-half of a share-purchase warrant. Each whole warrant entitles the holder to purchase another common share at C$3 for a period expiring on the later of (i) 18 months from the closing date and (ii) six months following a permit date related to its Las Cristinas project in Venezuela.

Crystallex has granted the underwriters an option to purchase additional units and/or warrants, exercisable at any time for up to 30 days after the closing of the offering, equal to up to 15% of the total number of units sold pursuant to the offering.

Toronto-based Crystallex, a gold producer, plans to use the net proceeds from the financing to develop the Las Cristinas project in Venezuela, for debt service and for general corporate purposes.

According to the TSX Web site, the company has about 262 million shares outstanding.

-Carolyn King; 416-306-2100; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 25, 2008 10:21 ET (15:21 GMT)