GABRIEL RES LTD - GBRRF STOCK NEWS

Gabriel Resources faces challenges as its ICSID arbitration claims against the Romanian Government were dismissed, leading to a Cost Order of approximately US$10 million. The company plans to evaluate the possibility of challenging the decision and is in discussions to secure additional funds for its future strategic objectives. However, there is a significant risk that sufficient financing may not be available, impacting the company's financial condition.

Gabriel Resources Ltd. (GBRRF) faces setback as ICSID arbitration claims against the Romanian Government are dismissed, leading to a US$10 million award against the company. Gabriel plans to challenge the decision and assess its financial obligations, with potential funding challenges ahead.

Gabriel Resources Ltd (TSXV:GBU) announces a proposal to provide holders of all outstanding common share purchase warrants with the right to exercise such warrants on a 'Net Exercise' basis. This move aims to reduce equity dilution suffered by shareholders from the exercise of the warrants. The company has a total of 200,819,566 outstanding warrants, with varying exercise prices and expiration dates.

Gabriel Resources Ltd. (TSXV:GBU) announces the publication of its Third Quarter Financial statements and Management's Discussion and Analysis Report for the period ended September 30, 2023. The company remains focused on its arbitration case against the Romanian State under the rules of the International Centre for Settlement of Investment Disputes. The Tribunal is expected to issue its final decision to the parties within 120 days of the closure of the proceedings, i.e., on or before January 12, 2024. The company held $4.6 million of cash and cash equivalents as at September 30, 2023, and believes it has sufficient funding necessary to cover its planned activities through to the end of December 2023.

Gabriel Resources Ltd. announced the successful approval of all resolutions at its annual general meeting held on August 3, 2022. Shareholders re-elected directors, re-appointed PricewaterhouseCoopers LLP as auditors, and approved amendments to the incentive stock option plan. The amendments to the Option Plan await final approval from the TSX Venture Exchange. The Company continues to focus on its Roșia Montană gold and silver project, despite ongoing legal challenges that hinder project implementation.

Gabriel Resources Ltd. has successfully completed a US$5.6 million private placement, issuing 33,105,117 common shares at $0.215 each. This final tranche contributes approximately US$0.53 million to the total. The funds will be allocated to ongoing ICSID arbitration costs and general working capital. The transaction is pending final acceptance by the TSX Venture Exchange. The company remains focused on its Roșia Montană project and disputes with the Romanian government over its operations.

Gabriel Resources Ltd. has granted 120,446 incentive stock options and 221,079 deferred share units to directors as non-cash compensation for Q1 2022. The options are exercisable for ten years at $0.24 per share and vest immediately. Starting Q2 2022, directors will no longer receive stock options or deferred units as fees. The total number of Common Shares available under the option plan is 59,778,004, with 33,415,276 already allocated. The company continues to focus on its Roșia Montană project while pursuing ICSID Arbitration against Romania.

Gabriel Resources Ltd. (TSXV:GBU) published its Q1 2022 financial results, reporting a net loss of $0.9 million, down from $8.6 million a year earlier. The company is engaged in a significant arbitration case against the Romanian State regarding its Roșia Montană gold and silver project. The tribunal confirmed it would render an award in 2022. Cash and equivalents totalled $2.3 million, while the company completed agreements to sell mining equipment for $1.75 million and land for $1.45 million. A private placement of up to $5.6 million is underway to support ongoing operations.