BANGALORE (Reuters) - Canada's Carpathian Gold Inc CPN.TO said Barrick Gold Corp ABX.TO would acquire a 9 percent stake in the company for about C$20 million in a private placement.

Under the deal, which will make Barrick Gold the largest stakeholder in the company, Carpathian will sell 38.5 million shares at 52 Canadian cents a share.

Carpathian, which is focused on gold-copper exploration in Romania and Brazil, said the proceeds will be used for ongoing exploration and development work in its Rovina Valley Project in west-central Romania.

Carpathian, in which Canada's Sprott Asset Management holds a near 3 percent stake, expects to close the placement on or about August 1, 2011.

Shares of the Toronto, Ontario-based company closed at C$0.58 on Friday on the Toronto Stock Exchange.

(Reporting by Amruta Sabnis in Bangalore; Editing by Saumyadeb Chakrabarty)