LONDON, April 11, 2007 (PRIME NEWSWIRE) -- Crew Gold Corp ("Crew Gold") (TSX:CRU) (Oslo:CRU) (Frankfurt:KNC) (Other OTC:CRUGF) has appointed First Securities ASA ("First") for a placement of up to 12 million shares in Crew Minerals ASA ("Crew Minerals") in a book-building process. The decision for Crew Gold to reduce its holdings in Crew Minerals is based on advice from our advisors to create a wider distribution and more open shareholder structure to increase liquidity in Crew Minerals. Pricing and allocations are expected to be announced as soon as is practical following the closing of the book.
The book will close at 8:30 a.m. CET April 12th, 2007. The book is open to professional Norwegian and international Investors. The Manager may reduce or reject purchase orders at their own discretion.
Crew Gold currently holds 50 million shares in Crew Minerals representing 54.55% of the total issued share capital. To the extent that the Placement is completed, Crew Gold undertakes not to sell or otherwise dispose of any shares in Crew Minerals for a period of 90 days from the completion of the Placement without the prior written consent of the Manager.
Jan A. Vestrum
President & CEO
Safe Harbour Statement
This news release contains forward-looking statements which reflect the expectations of management and the board of directors, and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where Crew Gold Corporation is conducting business and/or investor relations. Forward looking statements typically contain words such as "believes", "anticipates", "continue", "could", "expects", "indicates", "plans", "will", "may", "projects", "would" or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Such forward-looking statements reflect the current beliefs of management and the board of directors based on information currently available to them. Forward-looking statements involve inherent risks and uncertainties, and Crew cautions readers not to place undue reliance on these statements as a number of important factors could cause Crew's actual results to differ materially from the beliefs and expectations expressed in such forward-looking statements. Factors that could cause actual results to differ materially from the results discussed in the forward-looking statements, include, but are not limited to, the factors discussed under the heading "Risks and Uncertainties" in Crew's Annual Information Form dated October 10, 2006, as filed on SEDAR at www.sedar.com. Although the forward-looking statements contained in this news release are based upon what management and the board of directors believes to be current and reasonable assumptions, Crew cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Crew undertakes no obligation to publicly update or revise these forward-looking statements to reflect subsequent events or circumstances. Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured", "indicated", and "inferred" "resources", which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure from the SEC's website at http://www.sec.gov/edgar.shtml.