Carpathian Gold announces $20 million strategic placement by Barrick Gold Corporation
Carpathian Gold announced that it has concluded an agreement with Barrick Gold Corporation for a CDN$20 Million private placement to purchase 38,461,538 common shares (the "Private Placement" and the "Common Shares") of the Corporation at a price of $0.52 per share. The Common Shares will be subject to a four-month hold period.
The proceeds from the Private Placement will be exclusively applied to the Corporation's ongoing exploration and development work on its wholly owned Rovina Valley Project ("RVP") situated in west-central Romania.