Vancouver, British Columbia--(Newsfile Corp. - December 1, 2023) - Awalé Resources Limited (TSXV: ARIC) ("Awalé") is pleased to announce that Awalé and Newmont Ventures Limited ("Newmont"), a wholly-owned subsidiary of Newmont Corporation, subject to TSX Venture Exchange ("Exchange") acceptance, have entered into an Investment Agreement (the "Agreement") for a strategic non-brokered private placement financing to raise C$957,530.89. The financing will be structured through the issuance of (i) units ("Units") with each Unit comprised of one common share in the capital of Awalé (a "Share") and one half of one common share purchase warrant (a whole warrant, a "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.

This proposed transaction builds on Newmont's initial investment through an exploration agreement with venture option and subscription agreement signed in May 2022 and as announced on June 15, 2022.

This proposed financing will be completed in two phases and involve the following key terms: see & read more on
https://www.newsfilecorp.com/release/189615/Awale-Signs-Investment-Agreement-for-Nonbrokered-Private-Placement-with-Newmont