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Provider: Thomson Reuters Stock Report
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Carpathian Gold Inc Announces $16 Million Bought Deal Financing

Monday, 19 Aug 2013 04:11pm EDT 

Carpathian Gold Inc announced that it has entered into an agreement with Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively the Co-Lead Underwriters), which have agreed to purchase, on a bought deal private placement basis, 114,500,000 common shares (the Shares) of Carpathian at a purchase price of $0.14 per Share (the Offering Price), for aggregate gross proceeds of approximately $16.0 million (the Offering). In addition, the Company has granted the Co-Lead Underwriters an option to purchase up to an additional 24,250,000 Shares at the Offering Price exercisable 2 days prior to closing of the Offering for additional gross proceeds in the amount of up to approximately $3.4 million. The Offering is scheduled to close on or about September 5, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities. The net proceeds of the Offering will be used for working capital purposes in Brazil. 

Company Quote

-0.0050 -25.00%
11:22am EDT