Gabriel Resources Secures $1.5 Million Loan Amid Financial Struggles

Gabriel Resources Ltd., a UK-based company, announced it secured $1.5 million in short-term unsecured loans from key shareholders. This funding aims to address the company's critical financial situation and support its operations and legal challenges.

The loans, granted by Electrum Global Holdings LP, Swiss Capital S.A., and Paulson & Co, come with a 12% annual interest rate and are due by November 2025, or earlier upon certain conditions. Gabriel plans to repay these loans through a proposed private placement of up to $4 million in securities.

This financial maneuver is exempt from certain regulatory requirements under the "financial hardship" clause. The company's ability to secure future funding remains uncertain as it faces ongoing financial and regulatory challenges in Romania.