To all: News Release. 1.4m share private placement completed
Vargas: Bema is buying at $1.40. Can I sell them my shares for $1.39?
Cheers,
Sergio
El Callao Mining Corp ECM
Shares issued 34,642,541 Jul 21 close $0.96
Tue 22 Jul 97 News Release
See Bema Gold Corporation (BGO) News Release Mr Roger Richer reports
El Callao has completed the private placement of 1,400,000 shares at $1.40 with Bema Gold that was reported in Stockwatch June 6 1997. The gross proceeds of $1,960,000 will be used to finance further exploration, including drilling on the Lo Increible gold property in Venezuela and for general corporate purposes. Prior to the transaction, Bema Gold held 14,644,430 shares of El Callao
together with warrants to acquire an additional 1,935,000 shares. The 1,400,000 shares acquired in the above transaction, together with Bema Gold's prior security holdings, will result in Bema Gold being the beneficial owner of, or having the power to exercise control or direction over, up to a total of 17,979,430 shares which would represent 42.4% of El Callao's outstanding shares on a diluted basis if no other securities were issued. The transaction was completed off-market.
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