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.
Read the original article on GowlingWLG.com
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