LEWISTON, N.Y. May 15, 2001 (PRIMEZONE) -- CVF Technologies Corporation's Gemprint(tm) division today announced its agreement to register the new Ekati(tm) brand diamonds from Canada's first and only operating diamond mine owned by BHP Diamonds, Inc. and Dia Met Minerals, Ltd. The non-invasive Gemprint(tm) laser technology was chosen as one of three methods to certify Ekati(tm) diamonds, which are known for their signature "eight hearts" cut.
CVF's patented Gemprint(tm) process fingerprints the unique light patterns from the facets of diamonds, digitizes the information and then remotely downloads it to an international database. No two diamonds are exactly the same and CVF's Gemprint(tm) can differentiate between stones that appear identical even to expert gemologists. The process neither marks the stones physically nor alters their molecular structure.
"Anyone who buys a Gemprinted diamond has the best chance of recovering the stone if it is lost or stolen," said Jeffrey I. Dreben, President and CEO of CVF Technologies Corporation (AMEX:CNV) in Lewiston. Nearly $1 billion worth of the world's gemstones, including the Hope Diamond, are already registered with Gemprint(tm) .The process is recognized by the FBI and Royal Canadian Mounted Police. Twenty insurance companies currently offer discounted premiums for Gemprinted diamonds.
"With Ekati(tm) brand diamonds, both the origin and quality of each gemstone are thoroughly certified," said Kowie Strauss, President, BHP Diamonds and Industrial Minerals, "Canadian diamonds from the Ekati(tm) mine are among the finest in the world. We are proud to make available to Canadian jewelers and consumers, some of the finest quality diamonds from our mine."
The Ekati(tm) brand diamonds are transported to Arslanian Cutting Works (NWT) in Yellowknife where they are cut, polished and certified. Each Ekati(tm) brand diamond is laser inscribed with the Ekati(tm) "maple leaf" logo, the Ekati(tm) name and an individual identification and certificate number. Each stone is identified and tracked through Gemprint(tm) and tied to the identification number. Three certificates, all using the same ID number, accompany each Gemprinted Ekati(tm) brand diamond. The first certificate, from the American Gem Society Lab (AGS), verifies the gem grade specifications of the diamond. The second, is from the Government of the Northwest Territories, and validates its Canadian origin. The third certificate guarantees that the diamond is from the Ekati(tm) mine.
The Ekati(tm) mine is Canada's only diamond mine and has been in production since October 1998, yielding some of the world's highest-grade diamonds. Ekati brand diamonds must be at least one-third carat or larger and of AGS "triple-zero" and "ideal grade." Triple-zero means the polish, symmetry and proportions are ideal. Less than one percent of the millions of diamonds that are cut and polished each year worldwide receive have an ideal grading. Ekati diamonds are being sold through select jewelers across Canada. For more information on CVF's Gemprint(tm), visit http://www.cvfcorp.com and http://www.gemprint.com. Media inquiries may be addressed to Dean Draznin Communications, (641) 472-2257.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Such forward-looking statements involve unknown and uncertain risks, uncertainties and other factors, which may cause the actual results, performance or achievements of CVF, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements.
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