On June 15, 2022, Awalé Resources Limited ("Awalé") (TSXV: ARIC) announced the closing of the previously announced private placement as part of a transaction with Newmont Ventures Limited ("Newmont"), a wholly-owned subsidiary of Newmont Corporation (NYSE: NEM) (TSX: NGT), the world's leading gold company and a producer of copper, silver, zinc and lead.
The transaction comprised a non-brokered private placement of common shares, raising gross proceeds of $636,900, and an exploration agreement on the Odienné Project, Côte d'Ivoire, with Newmont.
As a result of the offering, Newmont has become an insider of Awalé having acquired 10.49% of Awalé's current issued and outstanding shares.
Cyndi Laval and James Stewart of Gowling WLG advised Awalé with respect to both the private placement and the exploration agreement.
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