GABRIEL RESOURCES LTD. RESULTS OF AGM
Gabriel shareholders re-elect seven directors at AGM
2022-08-03 15:12 ET - News Release
Mr. Dragos Tanase reports
GABRIEL RESOURCES LTD. RESULTS OF AGM
All of the matters submitted to shareholders for approval, as set out in Gabriel Resources Ltd.'s management information circular dated June 28, 2022, were approved by the requisite majority of votes cast at its annual general and special meeting held in Vancouver, B.C., earlier today, including resolutions:
- Re-electing Dag Cramer, Ali Erfan, Dan Kochav, Anna El-Erian, James Lieber, Jeffrey Couch and Dragos Tanase as directors of the Company;
- Re-appointing PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year and authorizing the directors of the Company to fix its remuneration; and
- Approving certain amendments to the incentive stock option plan of the Company (the "Option Plan").
The amendments to the Option Plan remain subject to the final approval of the TSX Venture Exchange.
For further details regarding the matters approved at the Meeting, please see a copy of the Circular, which is available on the Company's SEDAR profile or its website.
About Gabriel
Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company's principal business had been the exploration and development of the Rosia Montana gold and silver project in Romania. The Rosia Montana Project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an historic and prolific mining district that since pre-Roman times has been mined intermittently for over 2,000 years. The exploitation license for the Rosia Montana Project is held by Rosia Montana Gold Corporation S.A., a Romanian company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Rosia Montana S.A., a Romanian state-owned mining company.
Upon obtaining the License in June 1999, the Group focused substantially all of their management and financial resources on the exploration, feasibility and subsequent development of the Rosia Montana Project. Despite the Company's fulfilment of its legal obligations and its development of the Rosia Montana Project as a high-quality, sustainable and environmentally-responsible mining project, using best available techniques, Romania has unlawfully blocked and prevented implementation of the Rosia Montana Project without due process and without compensation. Accordingly, the Company's current core focus is the ICSID Arbitratio