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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (12011)	5/9/2002 10:38:09 AM
From: Frank Pembleton	Respond to of 36161

Bema Enters Into Bought Deal Financing Agreement For CDN$ 15 Million (cnw) /Not for distribution to United States newswire services or for dissemination in the United States./ TORONTO, May 9 /CNW/ - Bema Gold Corporation ("Bema") is pleased to announce that it entered into an agreement for a bought deal financing with a syndicate of firms lead by Canaccord Capital Corporation and Haywood Securities Inc. and including Sprott Securities Inc. Bema will issue 10,000,000 units at $1.50 per unit for gross proceeds of CDN$15 million and will file a short form prospectus to clear these units. Each unit will consist 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. The Underwriters will have an option, until closing, to purchase up to an additional 6,666,667 units at the issue price. 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 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. 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; To request a free copy of this organization's annual report, please go to newswire.ca and click on reports@cnw.