Gabriel Resources Ltd. Issuance of an incentive plan
Issuance of incentive stock options and deferred stock units
LONDON, UK / ACCESSWIRE / October 11, 2021 / Gabriel Resources Ltd. (“Gabriel” or the “Company”) (TSXV: GBU) announces that it has granted a total of 241,953 incentive stock options under the Company’s stock option plan (the “Option Plan”) and 135,219 deferred share units under the Company’s Deferred Stock Unit Plan (the “DSU Plan”) to certain directors of the Company as non-cash attendance fees for the service during the third quarter of 2021 (the “Director Award”). All incentive stock options issued in connection with the grant to directors may be exercised for a period of ten years at a price of $ 0.24 per share and vest immediately from the date of termination. attribution.
The maximum number of common shares of the Company (“common shares”) that may be issued under the option plan must not exceed in total 59,778,004. As of the date hereof, a total of 32,997,040 common shares are granted for issuance in respect of outstanding incentive stock options granted under the Option Plan, representing approximately 3.4% of the issued and outstanding share capital. 4,319,674 Common Shares are currently granted for issuance in respect of outstanding Deferred Share Units granted under the DSU Plan.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Gabriel is a Canadian resources company listed on the TSX Venture Exchange. The main objective of the Company has been the exploration and development of the Roșia Montană gold and silver project in Romania. The Roşia Montană project, one of the largest unexploited gold deposits in Europe, is located in the Apuseni Mountains of southern Transylvania, Romania, a historic and prolific mining district which, since pre- Roman, has been exploited intermittently for over 2,000 years. The operating license for the Roşia Montană project is held by Roșia Montană Gold Corporation SA, a Romanian company in which Gabriel has an 80.69% stake, the balance of 19.31% being held by Minvest Roșia Montană SA, a company Romanian public mining company.
When obtaining the permit in June 1999, the Group concentrated almost all of its management and financial resources on the exploration, feasibility and subsequent development of the Roşia Montană project. Despite the Company’s compliance with its legal obligations and its development of the Roşia Montană project as a high quality, sustainable and environmentally friendly mining project, using the best available techniques, Romania has blocked and prevented the implementation of the Roşia Montană project without due process and without compensation. Accordingly, the Company’s current primary focus is ICSID arbitration. For more information, please visit the company’s website at www.gabrielresources.com.
This press release contains “forward-looking information” (also called “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans and to provide investors and others with 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 on a number of estimates and assumptions which, although considered reasonable by the Company at present, are inherently subject to significant business uncertainties and contingencies. , economic and competitive which may cause the financial results, performance or achievements to be materially different from those expressed or implied herein. Some of the important factors or assumptions used in developing forward-looking statements include, without limitation, uncertainties associated with: ICSID arbitration, actions of the Romanian government, conditions or events affecting the ability of the Company to finance its operations (including, but not limited to until the completion of the additional financing mentioned above) or the service of its debt, exploration, development and exploitation of mineral properties and the ‘overall impact of errors in judgment made in good faith in the preparation of forward-looking information.
Forward-looking statements involve risks, uncertainties, assumptions and other factors, including those set forth below, which may never materialize, prove to be incorrect, or otherwise material than what is currently contemplated, which could cause the Company’s results to differ materially from those expressed or implied by these forward-looking statements. All statements that express or involve discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions or future events or performance (often, but not always, identified by words or phrases such as “expects”, “is expected”, “believes”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends to “,” strategy “,” goals “,” objectives “,” potential “,” possible “or variations thereof or indicating that certain actions, events, conditions or results” could “,” could “,” would ” , “should”, “could” or “will” be undertaken, 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.
Many factors could cause actual results to differ materially from forward-looking statements, including, but not limited to:
- the coronavirus (COVID-19) epidemic may affect the operations of the Company and / or the schedule for ICSID arbitration;
- the length, disclosure required, costs, process and outcome of the ICSID arbitration;
- Romania’s actions following the inscription of the “Mining Landscape of Roşia Montană” as a UNESCO World Heritage Site;
- changes in the liquidity and capital resources of Gabriel, and / or of the group of companies of which it is directly or indirectly a parent;
- access to funding to support the continuation of the ICSID Group’s arbitration and / or operational activities in the future;
- dilution of shareholders’ equity resulting from the conversion or exercise of new or existing securities in part or in full into ordinary shares;
- the Company’s ability to maintain a continuous listing on the TSX Venture Exchange or any regulated public market for securities trading;
- the impact on the business strategy and its implementation in Romania of: any allegation of historical acts of corruption, uncertain tax inquiries; uncertain application of the law for and against the Group and political and social instability;
- regulatory, political and economic risks associated with operating in a foreign jurisdiction, including changes in laws, governments and legal regimes and the interpretation of existing and future tax and other legislation;
- volatility of exchange rates; and
- the availability and continued participation in operational or other matters concerning the Group of certain key employees and consultants.
This list is not exhaustive of the factors that could affect the Company’s forward-looking statements.
Investors are cautioned not to place undue reliance on forward-looking statements, and investors should not infer therefrom that there has been no change in the affairs of the Company since the date of this press release which would warrant a change. any forward-looking statements made in this document, other documents periodically filed or provided to the relevant securities regulatory authorities or documents presented on the Company’s website. All subsequent written and oral forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by this notice. The Company disclaims any intention or obligation to publicly update or otherwise revise any forward-looking statement or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to Company disclosure obligations under applicable Canadian securities. regulations. Investors are urged to read the documents filed by the Company with Canadian securities regulators, which can be viewed online at www.sedar.com.