Crew Gold Provides an Update on Interest Payments
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Press Release - December 3, 2009 Crew Gold Provides an Update on Interest PaymentsLONDON, United Kingdom: ("Crew" or "the Company") (TSX, OSE: CRU) TheCompany announces that it has not made the approximately $10.7million interest payment due on the Convertible Bonds.The Company today confirmed that, in light of its previouslyannounced proposed debt restructuring and the Company's contemplatedworking capital and capital expenditure requirements, it did not makethe US$10.7 million interest payment due on its convertible bonds dueon December 1, 2009.William LeClairChief Executive OfficerSafe Harbour StatementCertain statements contained herein that are not statements ofhistorical fact may constitute forward-looking statements and aremade pursuant to applicable and relevant national legislation(including the Safe-Harbour provisions of the United States PrivateSecurities Litigation Reform Act of 1995) in countries where Crew isconducting business and/or investor relations. The words "expect","anticipate", "will", "believe" and "may", and other similarexpressions, are often used to identify forward-looking statements.Forward-looking statements included herein relate, but are notlimited to, statements regarding (1) the completion of the proposedRestructuring, (2) the expected impact of the Restructuring, (3) theresults of the resource and reserve reviewing currently underway atthe LEFA gold mine, and (4) expected shareholdings followingcompletion of the Restructuring.Forward-looking statements involve known and unknown risks,uncertainties and other factors that could cause actual events orresults to be materially different from the events or resultsexpressed or implied by such forward-looking statements. Inevaluating these statements, prospective purchasers shouldspecifically consider various factors that may cause actual events orresults to be materially different from the events or resultsexpressed or implied by such forward-looking statements. Risk factorsthat could impact the Company include, without limitation, risksrelating to (1) receipt of all necessary approvals of theRestructuring, (2) the actions of bondholders in enforcing theexisting terms of the bonds, (3) production levels at the LEFA goldmine. Although Crew has attempted to identify important factors thatcould cause actual events or results to differ from those describedin forward-looking statements contained herein, there can be noassurance that the forward-looking statements will prove to beaccurate as actual events or results could differ materially fromthose anticipated in such statements.The material factors and assumptions used to develop forward-lookingstatements include, without limitation, (1) there being nosignificant disruptions affecting operations, whether due to labourdisruptions, supply disruptions, damage to equipment or otherwise,(2) continued development, operation and production at LEFAconsistent with our current expectations, (3) foreign exchange ratesamong the currencies that Crew does business in being approximatelyconsistent with current levels, (4) certain price assumptions forgold, (5) prices for electricity, fuel oil and other key suppliesremaining consistent with current levels, (6) production forecastsmeeting expectations, and (7) materials and labour costs increasingon a basis consistent with our expectations.Except as may be required by applicable law or stock exchangeregulation, the Company undertakes no obligation to update publiclyor release any revisions to these forward-looking statements toreflect events or circumstances after the date of this document or toreflect the occurrence of unanticipated events. Accordingly, readersshould not place undue reliance on forward-looking statements.http://hugin.info/90/R/1358870/331022.pdf --- End of Message ---Crew Gold CorporationAbbey House, Wellington Way, Weybridge Surrey United KingdomWKN: 226534105 ; ISIN: CA2265344028; ;
Datum: 03.12.2009 - 07:05 Uhr
Sprache: Deutsch
News-ID 9181
Anzahl Zeichen: 0
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London
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Business News
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