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VANCOUVER , Sept. 11, 2018 /CNW/ - Awalé Resources Limited. (ARIC-TSX.V) (the "Company" or "Awalé") is pleased to announce, subject to Exchange approval, a non-brokered private placement of 6,660,000 Shares at a price of CDN $0.125 per share. Gross proceeds of CDN $832,500 will be used for ongoing exploration expenditure on its projects in Côte D'Ivoire and for general overhead and operating expenses.
Three directors and one officer of the Company participated in the Offering acquiring, directly or indirectly, an aggregate of 1,904,000 shares. Sandstorm Gold Limited has maintained its support for the Company and acquired 1,200,000 shares.
All securities issued pursuant to the private placement will be subject to a four month hold period trading restriction.
ON BEHALF OF THE BOARD OF DIRECTORS
AWALE RESOURCES LTD.
Glen Parsons , Director
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.
SOURCE Awale Resources
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