Jens Dag Ulltveit-Moe

July 12, 2007 15:53 ET

Jens Dag Ulltveit-Moe Acquires Control of Securities of Crew Gold Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2007) - To comply with Canadian statutory reporting requirements, Mr. Jens Dag Ulltveit-Moe of Norway wishes to announce that on March 28, 2006, he acquired control over 4,000,000 common shares in the capital of Crew Gold Corporation ("Crew Gold"), forward contracts to purchase 2,000,000 common shares of Crew Gold, and NOK20,500,000 principal amount of bonds convertible into 1,863,636 common shares of Crew Gold. As a result of the March 28, 2006 transactions, Mr. Ulltveit-Moe controlled 4,000,000 common shares of Crew Gold, NOK77,000,000 principal amount of bonds convertible into 7,000,000 common shares of Crew Gold, and forward contracts to purchase 29,244,000 common shares of Crew Gold, in the aggregate representing approximately 12.16% of the outstanding common shares of Crew Gold (assuming the conversion of only the bonds controlled by Mr. Ulltveit-Moe).

Mr. Ulltveit-Moe further wishes to announce that on May 29, 2007, he acquired control over 4,596,500 common shares in the capital of Crew Gold. As a result of the May 29, 2007 transaction, Mr. Ulltveit-Moe controlled 48,777,500 common shares of Crew Gold and forward contracts to purchase 15,080,000 common shares of Crew Gold, in the aggregate representing approximately 15.11% of the outstanding common shares of Crew Gold.

The March 28, 2006 and May 29, 2007 transactions occurred through the facilities of the Oslo Stock Exchange. These acquisitions of securities were for investment purposes only, and Mr. Ulltveit-Moe, or entities owned or controlled by Mr. Ulltveit-Moe, may increase or decrease their security holdings in Crew Gold in the future.

To obtain a copy of the early warning report filed on SEDAR with respect to these trades, please contact Mr. Erlend Grimstad at +47 977 42 140.

Contact Information

  • Mr. Erlend Grimstad
    +47 977 42 140