Exercise of Warrants
Exercise of Warrants
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PRESS RELEASE
FOR IMMEDIATE RELEASE
December 29, 2023
Exercise of Warrants
Gabriel Resources Ltd. (TSXV: GBU - “Gabriel” or the “Company”) announces the exercise for cash of
871,400 outstanding warrants to purchase common shares at a price of $0.39 per share (each a “ 2020
Warrant”). The Company has received consideration of $339,846 in respect of those 2020 Warrants
exercised.
Gabriel has the following securities outstanding:
• 1,035,976,840 common shares;
• 25,723,372 warrants which are exercisable at a price of $0.49 and expire on January 15, 2024;
• 76,504,263 warrants which are exercisable at a price of $0.645 and expire on A ugust 23, 2024;
and
• 5,225,970 warrants which are exercisable at a price of $0.645 and expire on September 13, 2024.
For information on this press release, please contact:
Dragos Tanase
President & CEO
Phone: +40 730 399 019
Richard Brown
Chief Financial Officer
Mobile: +44 7748 760276
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Gabriel
Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company’s principal business had been the exploration and
development of the Roșia Montană gold and silver project in Romania. The Roşia Montană Project, one of the largest undeveloped gold deposits
in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an histor ic and prolific mining district that since pre- Roman
times has been mined intermittently for over 2,000 years. The exploitation license for the Roşia Montană Project is held by Roșia Montană Gold
Corporation S.A., a Romanian company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Roșia
Montană S.A., a Romanian state-owned mining company.
Upon obtaining the License in June 1999, the Group focused substantially all of their management and financial resources on t he exploration,
feasibility and subsequent development of the Roşia Montană Project. Despite the Company’s fulfilment of its legal obligations and its
development of the Roşia Montană Project as a high-quality, sustainable and environmentally-responsible mining project, using best available
techniques, Romania has unlawfully blocked and prevented implementation of the Roşia Montană Pr oject without due process and without
compensation. Accordingly, the Company’s current core focus is the ICSID Arbitration. For more information please visit the Company’s website
at www.gabrielresources.com.
Exercise of Warrants
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Forward-looking Statements
This press release contains “forward-looking information” (also referred to as “forward- looking statements”) within the meaning of applicable
Canadian securities legislation. Forward-looking statements are provided for the purpose of providing information about management’s current
expectations and plans and allowing investors and others to get a better understanding of the Company’s operating environment. All statements,
other than statements of historical fact, are forward-looking statements.
In this press release, forward- looking statements are necessarily based upon a number of estimates and assumptions that, while considered
reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies
that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied
herein.
Forward-looking statements involve risks, uncertainties, assumptions, and other factors including those set out below, that may never materialize,
prove incorrect or materialize other than as currently contemplated which could cause the Company’s results t o differ materially from those
expressed or implied by such forward-looking statements.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”,
“plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential”, “possible” or variati ons thereof or stating that
certain actions, events, conditions or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, or the negative of
any of these terms and similar expressions) are not statements of fact and may be forward-looking statements.
Numerous factors could cause actual results to differ materially from those in the forward- looking statements, including without limitation, the
ability to obtain stock exchange approval, where applicable, to effect the grant of rights. This list is not exhaustive of the factors that may affect
any of the Company’s forward- looking statements. Investors are cautioned not to put undue reliance on forward- looking statements, and
investors should not infer that there has been no change in the Com pany’s affairs since the date of this press release that would warrant any
modification of any forward- looking statement made in this document, other documents periodically filed with or furnished to the relevant
securities regulators or documents presented on the Company’s website. All subsequent written and oral forward-looking statements attributable
to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice. The Company disclaim s any intent or
obligation to update publicly or otherwise revise any forward- looking statements or the foregoing list of assumptions or factors, whether as a
result of new information, future events or otherwise, subject to the Company’s disclosure obligations under applicable Canadian securities
regulations. Investors are urged to read the Company’s filings with Canadian securities regulatory agencies which can be view ed online at
www.sedarplus.ca.