Securities Law & Instruments

Headnote

Cease trade order revoked where the issuer hasremedied its default in respect of disclosure requirements underthe Act.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am.,ss. 127(1)2, 127(5), 127(8), 144.

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, CHAPTER S.5,AS AMENDED (the "ACT")

AND

IN THE MATTER OF

CRYSTALLEX INTERNATIONAL CORPORATION

 

ORDER

(Section 144)

WHEREAS the securities of CrystallexInternational Corporation (the "Reporting Issuer")are currently subject to an Order made by the Director on behalfof the Ontario Securities Commission (the "Commission")on the 9th day of July, 2003 pursuant to paragraph2 of subsection 127(1) and subsection 127(5) of the Act, asextended by the Director on the 23rd day of July,2003 pursuant to subsection 127(8) of the Act (collectively,the "Cease Trade Order") directing that trading inthe securities of the Reporting Issuer cease until 5:00 p.m.(EST) on the second business day after the Company files itsrestated comparative financial statements for the year endedDecember 31, 2002;

AND WHEREAS the Cease Trade Order wasmade on the basis that the Reporting Issuer's audited financialstatements for the year ended December 31, 2002 which includedcomparative amounts for the years ended December 31, 2000 and2001 were not in accordance with generally accepted accountingprinciples;

AND WHEREAS the Reporting Issuer hasfiled on SEDAR on the 29th day of July, 2003 itsrestated audited financial statements for the year ended December31, 2002;

AND WHEREAS the Reporting Issuer hasapplied to the Commission for revocation of the Cease TradeOrder pursuant to section 144 of the Act;

AND UPON considering the applicationand the recommendation of Staff of the Commission;

AND UPON the Director being satisfiedthat to do so would not be prejudicial to the public interest;

AND NOW THEREFORE, IT IS ORDERED, pursuantto section 144 of the Act, that the Cease Trade Order be andit is hereby revoked.

July 30, 2003.

"Margo Paul"