A proposed private placement will bring about a change in control of Carson Gold (VSE), a junior which has been actively involved in acquiring and developing mineral properties in Venezuela since 1990.
Venezuelan Goldfields (VSE) has the right to acquire up to 2.5 million units of the private placement of three million units at $2.04 per unit (one share and one warrant), and will be allowed to nominate three members to Carson’s 6-member board.
Upon closing, Eric Friedland will become chairman and chief executive officer of Carson Gold, which previously signed an agreement allowing Venezuelan Goldfields to have joint venture partners for its properties on a 60/40 basis. This agreement will apply to Carson Gold’s newest concession, La Raya, 10 km south of Placer Dome’s Las Cristinas property in the Kilometre 88 district. Carson can earn a 100% interest by making cash payments of US$1.7 million over four years to a Venezuelan company.
To earn its 60% interest, Venezuelan Goldfields must in turn assume all financial obligations to acquire, explore and develop the property to production feasibility.
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