Arizona Star Resources and Bema Gold announce private placement.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 27, 1995-- Arizona Star Resource Corp. ("Arizona Star") (VSE See DOS/VSE. VSE - Virtual Storage Extended : AZS AZS Alumina-Zirconia-Silica AZS Akademicki Zwiazek Sportowy (Polish: Academic Sports Association) AZS Automatic Zero Set AZS Azerbaijan Standard AZS Samana International Airport, Dominican Republic (airport code) ) and Bema Gold Corporation ("Bema Gold") (VSE, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , AMEX AMEX See: American Stock Exchange : BGO BGO Bismuth Germanate BGO Baguio City (Philippines) BGO Blinding Glimpse of the Obvious BGO Bergen, Norway - Flesland (Airport Code) BGO Blue and Gold Officer (United States Naval Academy) ) announced the completion of the $2.25 million private placement previously announced on December 31, 1994. Bema Gold was the sole participant in the placement, purchasing 4,500,000 special warrants at $0.50 per special warrant. Each special warrant is exercisable into one common share and one share purchase warrant. Two share purchase warrants entitle Bema Gold to purchase one additional share of Arizona Star for two years at $0.65. Bema Gold is the largest shareholder in Arizona Star, holding 21.30% of the issued and outstanding common shares of Arizona Star upon issue of common shares for the special warrants. Net proceeds from this private placement issue will be used for repayment of debt owed to Bema Gold and for drilling and trenching on the Eva and Cerro Roman gold zones at the Aldebaran Property. -0- Note: The Vancouver and Toronto Stock Exchanges neither approves nor disapproves the information contained in this News Release. CONTACT: Don Halliday, 604/681-8371 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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