Gabriel Resources Completes Second Tranche of Private Placement

Gabriel Resources Ltd. has completed the second tranche of its non-brokered private placement, issuing 19,976,600 units at C$0.05 per unit. This generated gross proceeds of US$0.7 million. Notably, insiders subscribed for a significant portion, totaling 77,052,600 units over both tranches. The private placement's total proceeds now stand at US$3.0 million from 85,614,000 issued units. The offering awaits final approval from the TSX Venture Exchange. The raised funds are held in escrow until further clearance. Completion of this financial move is key for Gabriel's strategic objectives, amidst ongoing legal and regulatory challenges.