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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: Alex Raytselsky who wrote (9937)	7/22/1999 9:54:00 PM
From: gmweber	Respond to of 10482

El Callao to issue shares for debt to Bema Gold Bema Gold Corporation BGO Shares issued 112,112,453 Jul 22 close $0.79 Thu 22 Jul 99 News Release See El Callao Mining Corp (ECM) News Release Mr. Clive Johnson and Mr. Roger Richer report El Callao Mining will issue shares for debt to Bema Gold. El Callao will issue, subject to Vancouver Stock Exchange approval, five million common shares in the capital of El Callao at a deemed price of 15 cents per share as a repayment of $750,000 owed to Bema. Bema is the largest shareholder of El Callao and manages its affairs. After the issuance of the above shares for debt, Bema will own approximately 45 per cent of El Callao's issued and outstanding share capital. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com