Owner
Post by Franko10 ™ on Oct 11, 2004 14:59:04 GMT -5
Crystalix Group International Receives $3.5MM Capital Investment (bwire)
LAS VEGAS (Business Wire) -- Crystalix Group International Inc. (CGI) (OTCBB: CYXG) (www.crystalix.com) announces that the company has received a total of $3.5MM working capital from two separate investment groups. This has allowed for the restructuring of CGI corporate debt in addition to giving CGI additional resources to accelerate the company's integrated sales and marketing plan for global growth through multiple channels.
The company has recently seated three additional members of the board of directors. Accepting the appointment, Kevin T. Ryan, Robert McDermott and Tamer Muftizade accepted their position as directors and will fulfill their obligations and duties along with their other duties with the company.
Along with the addition of the three new board of directors, Crystalix Group International Inc. proudly announces the following corporate officer changes: Ryan will assume the responsibilities of chairman of the board, CEO, president and member to the executive committee; McDermott will serve as executive vice president, CFO, corporate treasurer and member of the executive committee; Rainer Eissing shall serve as executive vice president, CTO, member of the European executive and operational committees, and manager of the Berlin Office; Edgar Van Dam shall serve as vice president, corporate assistant secretary, DTO, and member of the executive committee; Muftizade shall serve as CFO and secretary in Crystalix Europe and member of the European executive and operational committees; Birol Nader shall serve as president and CEO in Crystalix Europe and member of the European executive and operational committees; Doug Lee shall serve as executive vice president, director of operations and member of the executive committee; Patty Hill shall serve as vice president of finance, corporate secretary, administration, and member of the executive committee; and John Lais shall serve as vice president of sales, Chief Marketing Officer and member of the executive committee.
The new board immediately took measures to adopt and began to place members on its audit committee, compensation committee, and code of business conduct and ethics. Crystalix Group International Inc. welcomes its new leadership team and looks forward to the execution of the global expansion of the marketing of our subsurface laser equipment and product worldwide.
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. Crystalix kiosks are 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 the 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.
Crystalix Group International Inc., Las Vegas
John J. Lais, III, 702-740-4616, ext. 129
or
Princeton Research
J. Michael King, 702-650-3000
LAS VEGAS (Business Wire) -- Crystalix Group International Inc. (CGI) (OTCBB: CYXG) (www.crystalix.com) announces that the company has received a total of $3.5MM working capital from two separate investment groups. This has allowed for the restructuring of CGI corporate debt in addition to giving CGI additional resources to accelerate the company's integrated sales and marketing plan for global growth through multiple channels.
The company has recently seated three additional members of the board of directors. Accepting the appointment, Kevin T. Ryan, Robert McDermott and Tamer Muftizade accepted their position as directors and will fulfill their obligations and duties along with their other duties with the company.
Along with the addition of the three new board of directors, Crystalix Group International Inc. proudly announces the following corporate officer changes: Ryan will assume the responsibilities of chairman of the board, CEO, president and member to the executive committee; McDermott will serve as executive vice president, CFO, corporate treasurer and member of the executive committee; Rainer Eissing shall serve as executive vice president, CTO, member of the European executive and operational committees, and manager of the Berlin Office; Edgar Van Dam shall serve as vice president, corporate assistant secretary, DTO, and member of the executive committee; Muftizade shall serve as CFO and secretary in Crystalix Europe and member of the European executive and operational committees; Birol Nader shall serve as president and CEO in Crystalix Europe and member of the European executive and operational committees; Doug Lee shall serve as executive vice president, director of operations and member of the executive committee; Patty Hill shall serve as vice president of finance, corporate secretary, administration, and member of the executive committee; and John Lais shall serve as vice president of sales, Chief Marketing Officer and member of the executive committee.
The new board immediately took measures to adopt and began to place members on its audit committee, compensation committee, and code of business conduct and ethics. Crystalix Group International Inc. welcomes its new leadership team and looks forward to the execution of the global expansion of the marketing of our subsurface laser equipment and product worldwide.
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. Crystalix kiosks are 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 the 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.
Crystalix Group International Inc., Las Vegas
John J. Lais, III, 702-740-4616, ext. 129
or
Princeton Research
J. Michael King, 702-650-3000
