Gabriel Resources closes initial C$3.29M private placement

Gabriel Resources Ltd. (TSXV:GBU) has successfully completed its initial non-brokered private placement, issuing 39,909,296 units to Electrum Global Holdings L.P. and Paulson & Co. Inc. for an aggregate subscription of approximately US$2.32 million (C$3.29 million). The transaction comprised US$745,634 in cash subscriptions and US$1.575 million satisfied through debt settlement, which repaid outstanding bridge-loan principal and accrued interest.

The company expects to complete subsequent closings for the remaining 18,562,461 units and aggregate subscriptions of approximately US$1.08 million during October 2026, subject to receipt of signed subscription agreements and satisfaction of closing conditions. The net cash proceeds will be used to fund working capital and sustain essential operations, including the pursuit of the company's application to annul the ICSID arbitration award rendered on March 8, 2024.

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