Business
Awalé Resources Successfully Closes $2.36 Million Financings, Appoints New CEO, Welcomes New Directors, Settles Debt and Grants Stock Options
Awalé Resources Successfully Closes $2.36 Million Financings, Appoints New CEO, Welcomes New...
About this update from Awale Resources Limited
[{"type":"text","content":"\n \n \n \n Awalé Resources Successfully Closes $2.36 Million Financings, Appoints New CEO, Welcomes New Directors, Settles Debt and Grants Stock Options\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 24, 2023\n \n \n /CNW/ - Awalé Resources Limited (TSXV: ARIC) (\"\n \n Awalé\n \n \" or the \"\n \n Company\n \n \"), a junior explorer focused on gold and copper exploration in Côte d'Ivoire, is pleased to announce the closing of its previously announced financings for gross proceeds of\n \n $2.36 million\n \n together with other significant developments that will propel the Company toward a new phase of growth and success.\n \n \n The financings include a\n \n $1.5 million\n \n non-brokered private placement, including\n \n $1 million\n \n by Orecap Invest Corp. (formerly Orefinders Resources Inc.) (\"\n \n Orecap\n \n \"), a prominent investor in the mining sector, and a concurrent\n \n $860,610\n \n brokered private placement led by Beacon Securities Limited as agent (the \"\n \n Agent\n \n \"). The net proceeds from the Brokered Financing and the Non-Brokered Financing will be used for exploration and development expenditures at the Company's projects in\n \n Ivory Coast\n \n , settlement of certain payables, and general working capital purposes. Full details of the financings, allocation of shares for debt and a grant of stock options are provided below.\n \n \n \n Appointment of New CEO and New Directors to the Team\n \n \n \n Awalé is delighted to announce the appointment of\n \n Andrew Chubb\n \n , formerly the Chief Operating Officer of the Company as its new Chief Executive Officer (\"\n \n CEO\n \n \") and as a director. Andrew is a geologist with 20 years of experience and has been intimately involved with the Company's projects since inception. With a proven track record of success and exceptional leadership skills, Andrew is well-equipped to steer Awalé towards future success.\n \n \n In addition to the CEO appointment, we are excited to welcome\...