Korite received creditor protection on June 30, 2020. Korite donated it after its discovery in Alberta. Neil Landman, curator, said that it became extinct 66 million years ago, at the time of the dinosaurs. On September 27, 2007, an ammonite fossil 80 million years old and 60 cm (two ft) in diameter of ammonite made its debut at the Museum of Natural History. It is a member of the American Gem Trade Association. The firm's sister company, Canada Fossils Ltd., provides it with ammonites and other fossils. Korite is based in Calgary, Alberta, Canada. The company produces natural ammolite gemstones and jewelry. Korite is the largest commercial producer of ammolite. The company, its discovery team, craftspeople, designers and sales professionals stand by the quality and professionalism of every aspect of its international operations.For Korité, the holiday in West Africa, see Eid al-Fitr. KORITE is vertically integrated, from operating the largest commercial ammolite mine in the world to designing, manufacturing and selling fine jewellery and art in more than 28 countries. Its coil shape creates constant movement and circulation of energy, bringing a sense of stability, grounding and protection to any space. It is also believed to have metaphysical healing properties, connecting to the root chakra to bring prosperity, fortune and luck. It is believed that Ammolite reduces toxicity and enhances well-being by promoting the flow of Ch'i through the body. Leading Producer : KORITE holds the only Cultural Property General Export permit for Ammonite and Ammolite in Canada.Įxport Success Story : KORITE International has more than 90 per cent of the world market of Ammolite, with 90 per cent of customers residing outside Canada.įavoured for Feng Shui and Metaphysical Healing : The stunning Ammolite gemstones and Ammonite fossils are celebrated by Feng Shui Masters for their association with good fortune and health. Wealth of Experience : With more than 40 years of experience, the KORITE brand is internationally recognized as the leading producer of the exotic and ultra-rare Ammolite gemstones and Ammonite fossils. Says Lui, 'While Ammonite fossils are found on every continent, only in southern Alberta are they found with the distinctly bright, beautiful and iridescent colours that make it so rare, exotic and precious, dating back approximately 71 million years.' Ammolite was officially designated as a naturally occurring precious gemstone by The World Jewellery Confederation in 1981.Įthically Produced Canadian Treasure : All KORITE Ammolite is ethically mined in southern Alberta and government certified in Canada. KORITE Ammolite and Ammonite is ethically mined in Alberta, which is home to the highest-grade deposits of Ammonite fossils and Ammolite in the world. KORITE will remain headquartered in Calgary, Alberta.

Said Cody Church, Founder and CEO of Clear North Capital, 'We believe that exceptional opportunities are available in several core and emerging market segments for the ultra-rare KORITE Ammolite, and we look forward to bringing this Canadian and specifically Alberta treasure to consumers globally.' We have repositioned ourselves as a more efficient business and better able to serve our loyal customers in today's environment.' 'We are grateful for the ongoing support of our employees, customers, vendors, landlords and shareholders, and we are excited to start the next chapter in KORITE's 40-year journey. 'We are very pleased with the outcome of the CCAA process,' said Lui.

KORITE will continue to be led by David Lui, who joined KORITE International Inc. Clear North, based in Calgary, is Canada's pre-eminent family office, focused on private equity, combining experience and flexibility to support KORITE's future growth. (Clear North) in partnership with KORITE's current CEO. The new ownership group is led by Clear North Capital Holdings Inc. KORITE is well positioned to fulfill the continuing demand for its treasured Ammolite jewellery, gemstones and Ammonite fossils. 21, 2020 /PRNewswire/ - KORITE International LP (KORITE), formerly KORITE International Inc., the world's leading producer of Ammolite jewellery and gemstones, is pleased to announce its emergence from creditor protection under the Companies' Creditors Arrangement Act ('CCAA') and is under new ownership effective today. KORITE International emerges from CCAA protection under new ownershipĬALGARY, AB, Dec.

Korite ammonite