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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Crystallex Announces Proposed Private Placement to Raise Up to US$120 Million

Without this financing, we may never have been able to complete the arbitration, so the fact that we must now share "some" percentage of the award in the form of a CVR is better than no award at all. Look, we were on life support. In the last few days, a series of events has transpired that could get us out of intensive care and at least back into somewhat stable condition while we ride out the Venezuelan freak train. The fact that we now have a better chance of making it through arbitration is a very good thing. A bird in the hand is better than two in the bush. Having said that, I can only assume at this point that the company hasn't gone too crazy on the interest rate on the notes and the percentage of the award subject to the CVR. Those weren't disclosed in the PR.

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