Jimmi, some people may be thinking of how some of the previous financings were structured. Here is one from early 2008:
TORONTO, ONTARIO--(Marketwire - Jan. 25, 2008) - Crystallex International Corporation (TSX:KRY)(AMEX:KRY) ("Crystallex" or the " Company") announced today that in connection with its previously announced filing of a preliminary short form prospectus on January 24, 2008 in respect of an offering of units, the syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including GMP Securities L.P., Haywood Securities Inc. and Wellington West Capital Markets Inc. have agreed to purchase 28.6 million units of Crystallex at a price of Cdn$2.10 per unit for aggregate gross proceeds to Crystallex of Cdn$60,060,000.
Each unit consists of one common share of Crystallex and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase a further common share of Crystallex at an exercise price of Cdn$3.00 for a period expiring on the later of: (i) 18 months from the closing date of the offering; and (ii) six months following the permit date, where the permit date is the 45th day following the receipt by Crystallex of the Permit to Impact Natural Resources for the Company's Las Cristinas Project in Venezuela.
Crystallex has granted the underwriters an over-allotment option to purchase additional units and/or warrants, exercisable at any time, in whole or in part, for a period of 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. The offering is scheduled to close on or about February 11, 2008.
Crystallex plans to use the net proceeds from the financing to develop the Las Cristinas Project, for debt service and for general corporate purposes.
The offering is subject to certain conditions including, but not limited to, the entering into by Crystallex and the underwriters of an underwriting agreement and the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the American Stock Exchange.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and these securities may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and any applicable state securities laws unless an exemption from registration is available. This news release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
