09:45 AM EST - Carpathian Gold Inc. : has struck a deal with a group of underwriters to raise $16 million from a bought deal financing. The net proceeds of the offering will be used for working capital purposes in Brazil, where its assets include the Riacho dos Machados gold project. The company said the underwriters, co- led by Cormack Securities Inc. and Macquarie Capital Markets Canada Ltd., have agreed to purchase 114.5 million common shares at 14 cents a share. Carpathian Gold Inc.
shares T.CPN are trading down $0.035 at $0.16.
