As requested, your News Alert for BGO
follows from EquityAlert.com.
Bema Gold Corporation
VANCOUVER, Mar 26, 2002 /PRNewswire-FirstCall via COMTEX/ -- Bema Gold Corporation ("Bema or "the Company") has agreed to satisfy amounts owing to Orocon Inc. ("Orocon") of CDN $4.8 million. This payment is in relation to performance fees payable to Orocon based on its target costs for the Julietta mine construction in Russia. Bema will issue a $4.8 million principal amount convertible promissory note to Orocon, subject to regulatory approval. The promissory note matures on June 20 2002, is non-interest bearing, unsecured and repayable at any time after May 2, 2002. Repayment of the promissory note may be satisfied in cash or, at the option of the Company, in shares based on the weighted average Bema share price during the 10 consecutive trading days ending one business day prior to the date of conversion.
On behalf of BEMA GOLD CORPORATION
"Clive T. Johnson"
Chairman, C.E.O., & President
For more information on Bema Gold please contact Investor Relations at (604) 681-8371 or toll-free 1-800-316-8855 or alternatively contact our web- site at www.bema.com.
The Toronto Stock Exchanges neither approves nor disapproves the information contained in this News Release, Bema Gold Corporation trades on The Toronto and American stock exchanges. Symbol: BGO.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
SOURCE Bema Gold Corporation
CONTACT: Bema Gold please contact Investor Relations at 604-681-8371 or
toll-free 1-800-316-8855 or alternatively contact our web-site at
www.bema.com;
To request a free copy of this organization's annual report, please go to
newswire.ca and click on reports@cnw.
(BGO. BGO)
prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
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KEYWORD: British Columbia
INDUSTRY KEYWORD: MNG |
