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Orecap Portfolio Company Awale Signs Investment Agreement with Newmont
Highlights: This is the second equity investment Newmont has made with Awale Financing is ann...
About this update from Orecap Invest Corp
[{"type":"text","content":"Orecap Portfolio Company Awale Signs Investment Agreement with NewmontHighlights: This is the second equity investment Newmont has made with AwaleFinancing is announced at a premium to marketAwale has drill results pendingAwale is about to start a new drill campaignToronto, Ontario--(Newsfile Corp. - December 4, 2023) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the \"Company\" or \"Orecap\") is pleased to announce that one of its portfolio investments companies, Awalé Resources Limited (TSXV: ARIC) and Newmont Ventures Limited (\"Newmont\"), a wholly-owned subsidiary of Newmont Corporation have entered into an Investment Agreement for a strategic non-brokered private placement financing to raise C$957,530.89. The Investment Agreement is subject to TSX Venture Exchange acceptance, The financing will be structured by issuing (i) units with each Unit comprised of one common share in the capital of Awalé and one half of one common share purchase warrant and (ii) Shares. If completed, the proceeds from the financing will be used to initiate greenfield exploration on the Odienné project permits, which lie outside the Newmont Joint Venture, and for general administrative costs of Awalé.Full Details on this financing can be found on Awale's website: Awale Signs Investment Agreement For Non-Brokered Private Placement With NewmontAbout Orecap Invest Corp.Orecap seeks Special Situation investments in the natural resource sector that offer shareholders diverse exposure to high returns in precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), and Cuprum Corp. in addition to owning a broad portfolio of land packages focussed on gold, copper and zinc. Agnico Eagle Mines Limited is a 9.9% shareholder and holds an option to acquire up to a 75% interest in Orecap's Knight and McGarry projects in exchange for spending $60 million on the Projects.About Awalé ResourcesAwalé is a diligent and systematic mineral exploration company focused on the discovery of large high-grade gold and copper-gold deposits. Awalé currently undertakes exploration activities in the underexplored parts of Côte d'Ivoi...