No surprise here. SMF

Carpathian's Macquarie forbearance extended to April 11

2014-03-31 09:01 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 March 28, 2014, to April 11, 2014. Pursuant to the agreement, any funds drawn down under tranche 3 of the facility must be repaid by June 30, 2014. As of today, Macquarie has advanced approximately $146.3-million (U.S.) to MRDM under the facility. There is no assurance that Macquarie will agree to any further extensions of the forbearance.