CarpathianGold Inc. said May 9 that Forbes & Manhattan Resources Inc.will invest C$10 million in the company to help advance the gold project inRomania.
Following the private placement, Forbes will own about15.75% of Carpathian.
Forbes will subscribe to a private placement of units at 7Canadian cents apiece with each unit comprising 1 common share and 0.5 of ashare purchase warrant.
Each whole warrant will be exercisable for 1 common share at12 cents for two years.