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VANCOUVER, BC , March 31, 2021 /CNW/ - Awalé Resources Ltd. (TSXV: ARIC) (the "Company") wishes to announce that, subject to regulatory approval, the Company intends to complete a non-brokered private placement of up to 33,333,333 units at a price of $0.06 per unit for gross proceeds of up to $2,000,000 . Each Unit will consist of one common share and one-half share purchase warrant; each whole share purchase warrant will be exercisable at a price of $0.12 to purchase a common share of the Company until expiry 24 months from issuance. The gross proceeds of the private placement will be used to fund further development of its Odienné and Bondoukou projects in Cote d'Ivoire and general working capital.
The Company may pay finders fee's in either cash, shares, share purchase warrants or a combination thereof, as permitted by regulators on a portion of the private placements. The final details of which are not known at this time.
Neither 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 solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS,
AWALÉ RESOURCES LTD.
Glen Parsons , Director
SOURCE Awale Resources
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