Gabriel completes $2.04M (U.S.) closing of placement

Executive Summary

• Gabriel Resources Ltd. completed the initial closing of its non‑brokered private placement, issuing 26,659,886 units for gross proceeds of US$2.04 million.
• Each unit consists of one common share and one warrant (exercise price C$0.14, five‑year term).
• Net proceeds will fund general corporate purposes, notably costs associated with the company’s ICSID annulment application and critical operational expenses.

Key Details

• Units Offered: Up to 37,441,457 units; 26,659,886 units issued in this initial closing.
• Price per Unit: C$0.105 (10.5 cents).
• Gross Proceeds: US$2.04 million (≈ C$2.8 million).
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Right to purchase one additional common share at C$0.14 per share; exercisable for five years from closing date.
• Statutory Hold Period: Four months, expiring on 13 Jan 2026.
• Regulatory Condition: Completion subject to final approval by the TSX Venture Exchange.
• Future Closings: Additional closings planned throughout September 2025.
• Use of Proceeds: General corporate purposes, including funding the company’s International Centre for Settlement of Investment Disputes (ICSID) annulment application and other critical operational expenses.
• Finder Fees: No finder’s fees will be paid to arm‑length subscribers.

Notable Quotes

(No CEO/President quotes were provided in the release.)