By Sheri Kasprzak
New York, March 2 - Carpathian Gold Inc. priced an C$11 million private placement.
The offering includes up to 11 million units of one share and one half-share warrant. Each whole warrant is exercisable at C$1.30 for 16 months.
Jennings Capital Inc. and Clarus Securities Inc. are the underwriters.
Proceeds will be used for exploration on the company's Romanian license and for working capital.
Toronto-based Carpathian is a gold exploration company with properties in Romania and Hungary.
| Issuer: | Carpathian Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$11 million
|
| Units: | 11 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 16 months
|
| Warrant strike price: | C$1.30
|
| Underwriters: | Jennings Capital Inc. and Clarus Securities Inc.
|
| Pricing date: | March 2
|
| Stock symbol: | Toronto: CPN
|
| Stock price: | C$0.76 at close March 1
|
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