ELECTRUM GLOBAL HOLDINGS L.P. ACQUIRES UNITS OF GABRIEL RESOURCES LTD. IN PRIVATE PLACEMENT
This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
NEW YORK, Sept. 15, 2025 /CNW/ - On September 12, 2025, Electrum Global Holdings L.P. ("Electrum") acquired 11,435,000 units ("Units") in the capital of Gabriel Resources Ltd. (the "issuer") in connection with the issuer's private placement (the "Private Placement"). The Units were issued at a price of C$0.105 per Unit. Each Unit consists of one common share ("Common Shares") and one common share purchase warrant ("Warrant"). Each Warrant entitles Electrum to purchase one Common Share at a price of C$0.14 per share for a period of five years.
Upon completion of the Private Placement, Electrum and its joint actors (as such term is defined in National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) own 58,104,452 Common Shares, 39,973,000 common share purchase warrants, 28,538,000 contingent value rights and 9,271 arbitration value rights which will represent approximately 20.96% of the issued and outstanding Common Shares or approximately 30.92% upon the exercise of the warrants (assuming the exercise of all of the warrants beneficially owned by Electrum and that no other securities including those convertible into, or exercisable for, the issuer's securities, are issued, converted or exercised).
As at the date of the filing of Electrum's last Form 62-103F1 relating to its securityholdings of the issuer, being March 7, 2025, Electrum and "joint actors" of Electrum owned 46,669,452 Common Shares, 28,538,000 common share purchase warrants, 28,538,000 contingent value rights and 9,271 arbitration value rights, representing approximately 19.46% of the issued and outstanding Common Shares or approximately 28.03% upon the exercise of the warrants owned by Electrum (assuming the exercise of all of the warrants beneficially owned by Electrum and that no other securities including those convertible into, or exercisable for, the issuer's securities, are issued, converted or exercised).
The securities of the issuer noted above referred to above were acquired for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Common Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.
Electrum is an "accredited investor" (as such term is defined in National Instrument 45-106 – Prospectus Exemptions adopted by the Canadian Securities Administrators).
The issuer is located at c/o RM Gold (Services) Ltd., 25 Southampton Buildings, London, England, WC2A 1AL. Electrum is located at 600 Fifth Avenue, 24th Floor, New York, NY, USA 10020. A copy of the early warning report to which this news release relates can be obtained from Michael Williams (646-365-1600) or on the SEDAR+ profile of the issuer at www.sedarplus.ca.
SOURCE Electrum Global Holdings L.P.