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Post by Franko10 ™ on Sept 29, 2004 19:44:49 GMT -5
Crystalix Group International Signs Definitive Agreement for Singapore
TUESDAY , MARCH 02, 2004 09:00 AM
LAS VEGAS, Mar 2, 2004 (BUSINESS WIRE) -- Crystalix Group International, Inc. (OTCBB:CYXG) announces that its fully-owned subsidiary, Crystalix Europe, has on February 26, 2004 signed a "Sale of Laser Unit System and Software License Agreement" (the "Definitive Agreement") with S'aqib Holdings Co. Pte. Ltd. of Singapore. The Definitive Agreement provides for an initial purchase by S'aqib Holdings of one full Laser System and one Satellite System, followed by a further one full Laser System, three Satellite Systems and a Production System within 18 months from the date of installation and operation of the initial units. Delivery of the initial systems are due on or about April 15, 2004. The sale value of the equipment is US$800,000 plus an additional estimated US$250,000 in glass sales and license fees annually.
"We are delighted that our operations now stretch into the Far East. We believe Singapore to be the first of many Crystalix operations in this important region. Outside of the USA, I am pleased to state that we now have operating presence, not only in Europe, but also in Africa, the Middle East and now the Far East. We are truly becoming an international corporation," stated Tamer Muftizade, Chief Financial Officer of Crystalix, Europe.
CGI previously announced on February 26, 2004 the signing of the Definitive Agreement for Turkey by its subsidiary Crystalix Europe.
About Crystalix Group International Inc.
Crystalix is the leading manufacturer, distributor and marketer of laser subsurface engraved optical-quality glass products. Its principal product is a personalized three-dimensional engraved crystal that features the facial image of one or more persons or other three-dimensional images. As of Sept. 30, 2003, Crystalix had 44 kiosks owned by its marketing partners in retail shopping malls, resorts, promenades, casinos, and theme parks where its crystals are engraved and sold. Its engraving process involves the use of a high-resolution digital camera, a laser image scanner, and a laser that is configured together by a standard desktop personal computer, using its proprietary software and a Windows operating system. The laser image scanner converts images from the digital camera, a customer's digital image, or a hard copy photograph into a three-dimensional or two-dimensional digitally formatted image that will be engraved into the center of the crystal by the laser.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Crystalix Group International, Inc.
CONTACT: Princeton research
Mike King, 702-650-3000
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TUESDAY , MARCH 02, 2004 09:00 AM
LAS VEGAS, Mar 2, 2004 (BUSINESS WIRE) -- Crystalix Group International, Inc. (OTCBB:CYXG) announces that its fully-owned subsidiary, Crystalix Europe, has on February 26, 2004 signed a "Sale of Laser Unit System and Software License Agreement" (the "Definitive Agreement") with S'aqib Holdings Co. Pte. Ltd. of Singapore. The Definitive Agreement provides for an initial purchase by S'aqib Holdings of one full Laser System and one Satellite System, followed by a further one full Laser System, three Satellite Systems and a Production System within 18 months from the date of installation and operation of the initial units. Delivery of the initial systems are due on or about April 15, 2004. The sale value of the equipment is US$800,000 plus an additional estimated US$250,000 in glass sales and license fees annually.
"We are delighted that our operations now stretch into the Far East. We believe Singapore to be the first of many Crystalix operations in this important region. Outside of the USA, I am pleased to state that we now have operating presence, not only in Europe, but also in Africa, the Middle East and now the Far East. We are truly becoming an international corporation," stated Tamer Muftizade, Chief Financial Officer of Crystalix, Europe.
CGI previously announced on February 26, 2004 the signing of the Definitive Agreement for Turkey by its subsidiary Crystalix Europe.
About Crystalix Group International Inc.
Crystalix is the leading manufacturer, distributor and marketer of laser subsurface engraved optical-quality glass products. Its principal product is a personalized three-dimensional engraved crystal that features the facial image of one or more persons or other three-dimensional images. As of Sept. 30, 2003, Crystalix had 44 kiosks owned by its marketing partners in retail shopping malls, resorts, promenades, casinos, and theme parks where its crystals are engraved and sold. Its engraving process involves the use of a high-resolution digital camera, a laser image scanner, and a laser that is configured together by a standard desktop personal computer, using its proprietary software and a Windows operating system. The laser image scanner converts images from the digital camera, a customer's digital image, or a hard copy photograph into a three-dimensional or two-dimensional digitally formatted image that will be engraved into the center of the crystal by the laser.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Crystalix Group International, Inc.
CONTACT: Princeton research
Mike King, 702-650-3000
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
