UK's Gabriel Resources Raises $6.4M In Private Placement

Gabriel Resources, a UK-based resource company focused on the development and exploration of gold and silver projects, has completed a non-brokered private placement, raising 6.4 million Canadian dollars ($4.75 million). The funds will be used for general working capital and others. The company owns an 80.69 percent (%) equity interest in Roșia Montană Gold Corporation S.A., the holder of the exploitation license for the Roşia Montană gold and silver project. Gabriel aims to develop the project, which is located in Romania's South Apuseni Mountains. The completion of the private placement is subject to final acceptance by the TSX Venture Exchange and other approvals.

Gabriel Resources recently closed a non-brokered private placement securing $4.75 million in funds. The company plans to use the proceeds to support its general working capital and others. Gabriel is primarily focused on the exploration and development of the Roșia Montană gold and silver project located in Romania. It holds an 80.69% equity interest in Roșia Montană Gold Corporation S.A., the entity with the exploitation license for the project. The private placement is subject to final approval by the TSX Venture Exchange and other regulatory authorities.