Carpathian extends Macquarie forbearance to June 1

mineral exploration and development

Romania, Hungary & Brazil - N.I. 43-101, 5.09 M oz & inferred 5.66 M oz of Gold plus 175.0 M lbs of Copper .

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Carpathian extends Macquarie forbearance to June 1

posted on Jun 01, 2014 03:42AM

Carpathian extends Macquarie forbearance to June 13

2014-05-30 13:01 ET - News Release

Mr. Guy Charette reports

CARPATHIAN GOLD INC. PROVIDES CORPORATE UPDATE

Carpathian Gold Inc. has concluded a further extended forbearance and amendment agreement with Macquarie Bank Ltd. in respect of the project finance facility entered into between Macquarie and the corporation's wholly owned subsidiary, Mineracao Riacho dos Machados Ltda. The agreement extends the previously announced forbearance period which expired on May 30, 2014, to June 13, 2014. As of today, Macquarie has advanced an aggregate of approximately $160.4-million (U.S.) to MRDM under the facility. There is no assurance that Macquarie will agree to any further extensions of the forbearance.

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