/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS
TORONTO, March 5 /CNW/ - Carpathian Gold Inc (TSX:CPN) (the
"Corporation") announces that, subsequent to its press release dated March 2nd
in connection with an $11 Million "bought deal" financing, an additional
$1 Million has been raised through its underwriters Jennings Capital Inc and
Clarus Securities Inc. This additional financing will be completed on the same
terms and conditions namely, Units at a price of $1.00 each and consisting of
one (1) common share in the capital of the Corporation (a "Common Share") and
one half (1/2) of one Common Share purchase warrant with each full warrant
entitling the holder thereof to acquire one Common Share at a price of
Cdn $1.30 for 16 months after closing.
The compensation option payable to the Underwriters will be increased
All securities issued in connection with the Offering are subject to a
four (4) month plus one day hold period from the date of issuance. After
giving effect to the Offering, and assuming no exercise of the Warrants, the
Corporation will have 121,862,981 Common Shares issued and outstanding.
The net proceeds of the Offering will be used primarily for exploration
work on the Corporation's Romanian License and for working capital purposes.
Principally the exploration work will be on the Rovina License, located in
central Romania, where the Corporation has defined two large gold + copper
porphyry systems within 2.5 km of one another.
This Offering is subject to regulatory approval and completion of
This News Release is not for dissemination in the United States or to any
United States News Services. The common shares of Carpathian Gold Inc. have
not and will not be registered under the United States Securities Act of 1933,
as amended, (the "US Securities Act") or any state's securities laws and may
not be offered or sold in the United States or to any US person except in
certain transactions exempt from the registration requirements of the US
Securities Act and applicable state securities laws.
The Corporation is a Canadian mineral exploration company focused on gold
exploration on its properties in Romania and Hungary.
The TSX does not accept responsibility for the adequacy or accuracy of
this news release.
For further information:
For further information: Dino Titaro, President & CEO, Or Mike O'Brien,
Manager Investor Relations, Tel. (416) 368-7744 (CAN), Fax. (416) 260-2243
(CAN), e-mail: email@example.com, Website: www.carpathiangold.com; Eric
Leboeuf, Investor Relations, Montreal, Tel. (514) 341-0408 or 1-866-460-0408,
Fax. (514) 341-1527, e-mail: firstname.lastname@example.org; Paul Hilton, Investor
Relations, U.K., Tel. +44-207-881-0180, Fax. +44-0207-881-0181, e-mail: