Carpathian Gold Receives Shareholder Approval to Complete the Acquisition of Riacho Dos Machados Gold Project, Brazil
Mon Apr 14, 12:17 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - April 14, 2008) - Carpathian Gold Inc. (TSX: CPN.TO) ("Carpathian" or the "Corporation") is pleased to announce that at a Special Meeting of shareholders held on April 14, 2008 for purposes of approving the proposed acquisition of the Riacho Dos Machados Gold Project, Brazil, that 51,708,194 shares were voted by the shareholders of which 86% voted for the resolution approving the completion of this acquisition. The details of the Proposed Acquisition are set out in the Corporation's Letter to Shareholders and Notice of 2008 Special Meeting and Management Information Circular dated March 17, 2008, which is available under the Corporation's profile on SEDAR at www.sedar.com. The acquisition will close as soon as all remaining closing conditions are satisfied.
Commenting on the positive shareholder vote, Dino Titaro, President and Chief Executive Officer, stated "We are extremely pleased that such a large number of shareholders have submitted their votes, with an overwhelming majority of these shareholders expressing their strong support for the Proposed Acquisition. We believe all shareholders will benefit from the growth and near-term production potential offered by the Riacho Dos Machados Gold Project. Carpathian will now move forward to complete the remaining requirements necessary to complete the acquisition and commence with the work programs in order to quickly advance this project."
An overview presentation on the Riacho dos Machados Gold Project as well as that of the Rovina Gold-Copper Project in Romania can be found on the Corporation's website at www.carpathiangold.com.
Carpathian Business Description
Carpathian is a mineral exploration company focused on gold exploration and development primarily on its Rovina Exploration License in Romania. Upon closing of the Riacho dos Machados acquisition, a second gold exploration and development property in Brazil will be added to Carpathian's portfolio.
Forward-Looking Statements: This press release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", and other similar words, or statements that certain events or conditions "may" or "will" occur. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward-looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurance that forward-looking statements will prove to be accurate, as results and future events could differ materially from those anticipated statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
Contacts
Dino Titaro
Carpathian Gold Inc.
President & CEO
(416) 368-7744 (CAN)
(416) 260-2243 (CAN) (FAX)
Mike O'Brien
Carpathian Gold Inc.
Manager Investor Relations
(416) 368-7744 (CAN)
(416) 260-2243 (CAN) (FAX)
Email: info@carpathiangold.com
Website: www.carpathiangold.com
Investor Relations, Montreal
Eric Leboeuf
(514) 341-0408 or 1-866-460-0408
(514) 341-1527 (FAX)
Email: ericleboeuf@paradox-pr.ca |
