appointment of two local lawyers, Mr. Graham Collis and Mr. Nicolas Trollope, as directors.

Both lawyers are with the firm Conyers, Dill & Pearman.

At a meeting held March 31, shareholders approved the continuation of the British Columbia company under the laws of Bermuda, according to Bloomberg business news service.

The company is not yet registered in Bermuda.

When the continuation is completed the company name will change to Latin America Gold Ltd.

Common shares of the company will continue to trade on the Canadian Dealing Network Inc.

LAG also announced it raised $6.2 million from a private placement of eight percent secured convertible notes and share purchase warrants.

Effective March 31, LAG has issued notes valued at $6.2 million with 4.34 million share purchase warrants. Each warrant entitles the holder to acquire one common share at $2 up to December 31, 1997.

Proceeds from the private placement are earmarked for the Cominzasa joint venture with some anticipated to cover general working capital and continued exploration of the company's Romina concession located in the gold district of southeastern Venezuela.

LAG is associated with the Cominzasa gold properties in southern Ecuador.