Gabriel Resources Secures $3.4 Million Private Placement

Gabriel Resources Ltd. announced the initial closing of its non-brokered private placement for up to 58,471,757 units at a subscription price of C$0.0825 per unit. The initial closing involved the issuance of 39,909,296 units to Electrum Global Holdings L.P. and Paulson & Co. Inc., raising approximately US$2.32 million. This includes US$745,634 in cash subscriptions and US$1,575,000 in debt settlement.

Each unit comprises one common share and one warrant, allowing the holder to purchase another common share at C$0.11 for five years. The net proceeds will support working capital and operations, notably the ongoing annulment application before ICSID. The offering is subject to a statutory Canadian hold period and pending final acceptance from the TSX Venture Exchange.

Further closures are expected in October 2026, involving Swiss Capital S.A. and other investors for US$1.08 million. The company assures compliance with regulatory standards and emphasizes no finder’s fees will be paid in relation to this offering.