Crystallex International

Welcome to the Crystallex HUB on AGORACOM "Crystallex International Corporation is a Canadian-based gold producer with operations and exploration properties in Venezuela."

almost 13 years ago

in response to finance kid's message

Finance Kid,

You need to read this again:

http://www.crystallex.com/News/PressReleases/PressReleaseDetails/2011/Crystallex-Announces-Proposed-Private-Placement-to-Raise-Up-to-US120-Million1126858/default.aspx

The CVRs will be a contractual right to receive one or more payments, each of which is contingent upon receipt of funds (a "CVR Payment Event") by Crystallex pursuant to either an award or settlement (in each case, an "Award or Settlement") in respect to the arbitration between Crystallex and the government of Venezuela relating to the Las Cristinas gold project in Venezuela (the "Arbitration"). Each CVR will represent a right to receive a pro rata interest in a cash payment (a "CVR Payment") equal to a percentage (to be determined) of the applicable Award or Settlement, after deducting certain costs and expenses including applicable taxes, costs relating to the Arbitration and an amount equal to the principal amount of the Notes plus accrued interest.

You better recalculate, mate.

NZranger