Origin Merchant Partners is pleased to announce that Brio Gold Inc. (“Brio”) has entered in an Assignment and Assumption Agreement and a Restructuring Agreement with Macquarie Bank Limited (“Macquarie”) whereby Brio will acquire all of Macquarie’s interest in Carpathian Gold Inc. (“Carpathian”) including the Mineracao Riacho dos Machados Ltda. Gold project in Minas Gerais in Brazil. This transaction is expected to close on or about March 31, 2016.
Origin Merchant Partners acted as financial advisor to Carpathian with respect to this transaction.
Carpathian Gold Inc. (CSE: CPN) is an exploration and development company whose primary business is gold production at its Riacho dos Machados Gold Project in Brazil. It is also focussed on advancing its exploration and development plans on its Rovina Valley Au-Cu Project located in Romania.
Brio Gold Inc., a subsidiary of Yamana Gold, was formed in December 2014 to hold Fazenda Brasileiro, Pilar and C1 Santa Luz as well as some related exploration concessions, all of which were held as non-core assets within Yamana Gold.