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Sulliden Announces Investment of $5 Million in Carpathian Gold; Sulliden Representatives to be Appointed to the Carpathian Board of Directors
Sulliden Announces Investment of $5 Million in Carpathian Gold; Sulliden Representatives t...
About this update from Future Mineral Resources Inc.
[{"type":"text","content":"\n\n\n\nSulliden Announces Investment of $5 Million in Carpathian Gold; Sulliden Representatives to be Appointed to the Carpathian Board of Directors\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSulliden Announces Investment of $5 Million in Carpathian Gold; Sulliden Representatives to be Appointed to the Carpathian Board of Directors\nCanada NewsWire\nTORONTO, May 19, 2016\n\n\n\nTORONTO, May 19, 2016 /CNW/ - Sulliden Mining Capital Inc. (\"Sulliden\" or the \"Company\") (TSX: SMC) has entered into an agreement with Carpathian Gold Inc. (CSE: CPN) (\"Carpathian\") to acquire 71,428,571 units, or 7.9% of the issued and outstanding shares of Carpathian, at a price of CAD$0.07 per unit, for total consideration of CAD$5,000,000. Each unit consist of one (1) common share of Carpathian and one-half (0.5) of a common share purchase warrant (\"warrant\"). Each warrant will allow Sulliden to acquire one common share of Carpathian at a price of CAD$0.12 for a period of two years from the date of issuance. The warrant exercise period may be accelerated if the common shares of Carpathian trade at a price above CAD$0.15 for a period of 20 consecutive trading days.\n\nAs part of the agreement, Peter Tagliamonte, Sulliden's Senior Vice-President, and Stan Bharti, director of Sulliden, have joined Carpathian's board of directors, and will help play an active role in the development of Carpathian's Rovina Valley Gold Project, located in Romania.\n\nJustin Reid, President and CEO of Sulliden Mining Capital, commented, \"We are very excited about our new investment in Carpathian Gold, and the Rovina Valley asset, which is the second largest gold deposit in Europe. This investment is in line with Sulliden's proven strategy of driving value by investing in companies with quality development projects. This is a tremendous opportunity and we look forward to our roles as directors of Carpathian to help determine the optimal development scenario for the project.\"\n\nPlease see Carpathian's NI 43-101 technical report dated August 30, 2012, (available on www.sedar.com) for details r...