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Update on Colossal Gold Acquisition in Suriname and Odienné JV in Côte d'Ivoire
Update on Colossal Gold Acquisition in Suriname and Odienné JV in Côte d'Ivoire ...
About this update from Awale Resources Limited
[{"type":"text","content":"\n \n \n \n Update on Colossal Gold Acquisition in Suriname and Odienné JV in Côte d'Ivoire\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 Dec. 20, 2022\n \n \n /CNW/ - Awalé Resources Limited (\"\n \n Awalé\n \n \" or the \"\n \n Company\n \n \") (TSXV: ARIC) is pleased to provide the following updates.\n \n \n \n \n Colossal Gold Acquisition Update\n \n \n \n \n The Company is in the process of finalizing the details of a financing to raise a minimum of gross proceeds of\n \n CAD$2,000,000\n \n (the \"\n \n Private Placement\n \n \"). Closing of the Private Placement is a condition of completion of Awalé's acquisition (the \"\n \n Acquisition\n \n \") of Colossal Gold Resources Limited (\"\n \n Colossal\n \n \") (refer to the Company's news releases of\n \n September 13\n \n ,\n \n October 11\n \n ,\n \n November 8, 2022\n \n , and\n \n December 1, 2022\n \n for further details). The Company anticipates that the Private Placement will close in early\n \n January 2023\n \n . As required by the TSX Venture Exchange (\"\n \n TSXV\n \n \"), the Company filed on SEDAR a technical report regarding Colossal's Northwest Goliath Project in Suriname on\n \n December 15, 2022\n \n . The Company is also in the process of satisfying the final filing requirements of the TSXV in order to obtain final TSXV acceptance of the Acquisition. Awalé and Colossal have agreed to extend the Outside Date for satisfaction of all closing conditions from\n \n December 20, 2022\n \n to\n \n January 31, 2023\n \n .\n \n \n \n \n Odienné JV Update – Initial Scout Drilling\n \n \n \n \n An initial 9-hole scout drilling program at the Odienné JV project in Côte D'Ivoire is now complete. Seven first pass drill holes at\n \n Sceptre\n \n and two follow-up holes at Charger were drilled over these Iron Oxide Copper Gold (\"\n \n IOCG\n \n \") style targets. Samples from this drilling program will be sent to the Intertek Yamoussoukro preparation lab for preparation and shipment...