from EquityAlert.com.
Bema Closes CDN$ 25 Million Financing
VANCOUVER, May 31, 2002 /PRNewswire-FirstCall via COMTEX/ -- Bema Gold Corporation ("Bema") is pleased to announce that it has closed a previously announced financing with a syndicate of Canadian underwriters for gross proceeds of CDN$25 million. A short from prospectus has been receipted to clear 16,666,667 units at $1.50 per unit. The over allotment option of CDN$10 million in addition to the original CDN$15 million bought deal financing was fully subscribed. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to subscribe for one additional common share at a price of $2.00 and expire 12 months from closing. Proceeds from this offering will be used for additional drilling at the Julietta Mine, potential acquisitions in Russia and working capital.
On behalf of BEMA GOLD CORPORATION
"Clive T. Johnson"
Chairman, C.E.O., & President
For further 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 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)
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