Business
Orecap Completes Awalé Financing
Toronto, Ontario--(Newsfile Corp. - May 25, 2023) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF...
About this update from Orecap Invest Corp
[{"type":"text","content":"Orecap Completes Awalé FinancingToronto, Ontario--(Newsfile Corp. - May 25, 2023) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the \"Company\" or \"Orecap\") is pleased to announce that the Company has completed its investment in Awalé Resources Limited (ARIC:TSXV) (\"Awalé\"), as announced in the Company's April 25 news release.‎\"This financing and a change in leadership at Awalé represents a special situation where an active approach can add value to our investments. We are excited to partner with Awalé and its new CEO, Andrew Chubb, who has a clear plan to advance their Odienné project. Odienné is a large-scale and exciting copper-gold project that has attracted equity investment and a joint venture partnership with the world's largest gold miner, Newmont Corp. Newmont is scheduled to spend $3 million on Odienné in 2023. With fresh leadership, a restored balance sheet, and significant news flow on the horizon from Newmont's Investment in Odienné, we see a bright future for Awalé. So much so that Charles Beaudry and I have personally co-investing alongside Orecap,\" said Stephen Stewart, Orecap CEO.Awalé's New CEO and New Directors to the TeamAwalé also announced the appointment of Andrew Chubb, formerly the Company's Chief Operating Officer, as its new Chief Executive Officer and director. Andrew is a geologist with 20 years of experience and has been intimately involved with the Company's projects since its inception. In addition to the CEO appointment, Awalé appointed Stephen Stewart to their Board of Directors. Orecap will appoint an additional director to Awalé's Board of Directors at its forthcoming Annual General Meeting. Orecap Invest Corp's Corporate WebinarOrecap Invest Corp's Corporate PresentationFor the latest videos from Orecap, Ore Group, and all things Mining, subscribe to our YouTube Chanel: youtube.com/@theoregroupFor further information, please contact us:Orecap Invest Corp.Stephen Stewart, Chief Executive Officer416.644.1567‎[email protected] ‎Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsCertain information set forth in this news release contains forward-looking statements or information (\"f...