Business
/C O R R E C T I O N from Source -- Gabriel Resources Ltd./
/C O R R E C T I O N from Source -- Gabriel Resources Ltd./.
About this update from Gabriel Resources Ltd.
[{"type":"text","content":"\n\n\n\nIn c2031 transmitted at 15:02 today, errors occured in the second\n\n\nparagraph. Six of the figures relating to common shares were stated\n\n\nincorrectly. Corrected copy follows:\n\n\nGabriel Resources Ltd. - Newmont Participation in Public Offering\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nTSX Trading Symbol: GBU\n\n\nTORONTO, March 13 /CNW/ - Gabriel Resources Ltd. ("Gabriel" or the\n"Company") (TSX - "GBU") is pleased to announce that Newmont Canada Limited\n("NCL"), a subsidiary of Newmont Mining Corporation ("Newmont"), has elected\nto fully participate in Gabriel's previously announced equity offering of\n25,000,000 common shares (the "Offering") at a price of Cdn$4.35 per share\n(the "Offering Price") to raise gross proceeds of Cdn$108,750,000. Gabriel has\nalso granted the underwriters for the Offering an over-allotment option (the\n"Option") to purchase up to an additional 3,750,000 common shares at the\nOffering Price for a period of thirty (30) days after the closing of the\nOffering, for additional gross proceeds to Gabriel of Cdn$16,312,500 to cover\nover-allotments, if any, and for market stabilization purposes.\n\n\nAs of March 13, 2007 NCL holds 39,658,900 common shares or 18.8% of the\noutstanding common shares before completion of the Offering. Upon completion\nof the Offering NCL will hold 45,908,900 common shares or 18.9% of the then\nissued and outstanding shares of Gabriel. Assuming both the completion of the\nOffering and the Option, and Newmont's election to participate in up to 20% of\nboth elements, NCL will hold a total of 46,846,400 common shares or 19% of the\nthen issued and outstanding common shares. Participation by Newmont in the\nOffering and the Option will result in additional gross proceeds to Gabriel of\nCdn$31,265,625.\n\n\nThe common shares (the "Shares") will be offered by way of a short form\nprospectus in all of the provinces of Canada. A preliminary short form\nprospectus with respect to the Offering has been filed by Gabriel by way of\nSEDAR with the securities regulatory authority in each of the provinces of\nCanada. Closing of the Offering is subject to certain conditions, including,\nbut not limited to, receipt ...