VANCOUVER, British Columbia, May 1, 2003 (PRIMEZONE) -- Crew Development Corporation ("Crew") (TSE:CRU) (OSE:CRU) (Frankfurt:KNC) (Other OTC:CRWVF):
Crew has entered into a warrant agreement with Hans Christian Qvist, Director and Chairman of Crew, whereby Mr. Qvist will pay to Crew CAD$10,000 in exchange for Crew granting to Mr. Qvist the right to purchase up to 1,750,000 common shares of Crew from May 2, 2003 to May 2, 2004 for CAD$0.42 per share. Crew has also entered into a warrant agreement with Jan Vestrum, Director and Chief Executive Officer of Crew, whereby Mr. Vestrum will pay to Crew CAD$11,430 in exchange for Crew granting to Mr. Vestrum the right to purchase up to 2,000,000 common shares of Crew from May 2, 2003 to May 2, 2004 for CAD$0.42 per share. Messrs. Qvist and Vestrum held similar warrants which expired on May 1, 2003 without either of them exercising any rights to purchase common shares.
This news release contains certain "Forward-Looking Statements." All statements, other than statements of historical fact, included in this release, and/or statements made by company officers or directors at any given time, as well as Crew's future plans are such forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Crew does not undertake any obligation to update forward-looking statements should conditions or management's estimates or opinions change.