Business
Awalé Resources - Closing of Financing
Awalé Resources - Closing of Financing Canada NewsWire VANCOUVER, BC, July ...
About this update from Awale Resources Limited
[{"type":"text","content":"\n\n\n\nAwalé Resources - Closing of Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 9, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, BC, July 9, 2020 /CNW/ - Awalé Resources Limited. (TSX.V: ARIC) (the \"Company\" or \"Awalé\") is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Offering\") of 44,417,440 Units at a price of $0.07 cents per Unit, raising gross proceeds of $3,109,222. Each Unit consists of one common share of the Company and one share purchase warrant entitling the holder to acquire one additional common share at a price of $0.14 cents until expiry on July 8, 2023.  \nThe proceeds of the Offering are to be used by the Company for ongoing exploration expenditure, including drilling at the recent high-grade gold discovery on its Empire Prospect at the Odienné Project (New Release November 19,2019) in Cote D'Ivoire, and for general overhead and operating expenses.  \nAll securities issued under the Offering are subject to a hold period trading restriction which will expire on November 9, 2020.\nExisting Insiders of the Company participated in the Offering acquiring, directly or indirectly, for an aggregate of 12,227,156 units representing 10% of the Company's issued and outstanding shares on an undiluted basis and 17.9% on a partially diluted basis.  Additionally, copies of the early warning reports for Capital DI Limited and Glen Parsons will be available on Awalé's issuer profile on SEDAR at www.sedar.com.\nON BEHALF OF THE BOARD OF DIRECTORSAWALE RESOURCES LTD.\n\"Glen Parsons\"Glen Parsons, Director\nNeither 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. This news release does not constitute an offer to sell or a soli...