Bema Gold Enters Private Placement Subscription Agreement.VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 27, 1995--Bema Gold Corporation ("Bema Gold Bema Gold Corporation is a Vancouver, British Columbia based intermediate gold producer with operating mines and development projects in Russia, South Africa, Chile and Canada. ") reports that it has entered into a private placement subscription agreement with Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). Star Resource Corp. ("Arizona Star") whereby Bema Gold has agreed to purchase, subject to the approval of the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). , 2,500,000 units of Arizona Star at a price of $0.60 per unit. Each unit will consist of one common share and one-half of one share purchase warrant with each full share purchase warrant entitling Bema Gold to acquire one additional common share at a price of $0.60 per share in the first year and $0.70 per share in the second year. On September 1, 1995 Bema Gold acquired 1,910,905 common shares of Arizona Star by way of a shares for debt settlement. Those shares, together with Bema Gold's prior shareholdings result in Bema Gold currently holding 4,439,420 common shares of Arizona Star, representing 16.0 percent of Arizona Star's 27,801,961 outstanding common shares, and share purchase warrants entitling it to purchase an additional 2,715,000 common shares. Following the conclusion of the above-mentioned private placement, Bema Gold will hold a total of 6,939,420 common shares, representing 22.9 percent of Arizona Star's then outstanding common shares, and will hold warrants to purchase an additional 3,965,000 common shares. If all such warrants are exercised, Bema Gold would hold an aggregate of 10,904,420 common shares of Arizona Star, 31.8 percent. The acquisition by Bema Gold of the shares in Arizona Star is for investment purposes and Bema Gold may decide from time to time in the future to increase its ownership of Arizona Star's common shares. Bema Gold is not acting jointly or in concert with any other person in acquiring the units. On Behalf of BEMA GOLD CORPORATION Clive T. Johnson Chairman, C.E.O. & President -0- The Vancouver and Toronto Stock Exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. neither approve nor disapprove dis·ap·prove v. dis·ap·proved, dis·ap·prov·ing, dis·ap·proves v.tr. 1. To have an unfavorable opinion of; condemn. 2. To refuse to approve; reject. v.intr. the information contained in this News Release. Bema Gold Corporation trades on the Vancouver, Toronto and American Stock Exchanges This is a list of American stock exchanges. Stock exchanges in Latin America (where Spanish and Portuguese prevail) use the term Bolsa de Valores, meaning 'bag' or 'purse' of 'values'. . Symbol: 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) . CONTACT: Bema Gold Michael Hopley, 604/681-8371 |
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