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The latest announcement is out from Gabriel Resources ( (TSE:GBU) ).
Gabriel Resources Ltd. has announced a private placement of up to 114,152,000 units at a price of C$0.05 per unit to raise up to US$4 million. This initiative includes a shares-for-debt settlement agreement, which will see the issuance of 43,946,956 units to settle US$1.54 million of outstanding debt with key investors. This move is significant for Gabriel Resources as it aims to strengthen its financial position through this capital raise, while also addressing existing financial obligations. The success of this offering is contingent upon regulatory approvals and the company’s ability to secure necessary consents.
More about Gabriel Resources
Gabriel Resources Ltd. is a company operating within the natural resources sector, focusing on the development and exploration of mining projects. Its primary focus is on maximizing the value of its mining assets through strategic financial and operational maneuvers.
YTD Price Performance: -35.00%
Average Trading Volume: 19,837
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$8.17M
Learn more about GBU stock on TipRanks’ Stock Analysis page.
