Awale Signs Investment Agreement for Non-brokered Private Placement with Newmont

Awale Signs Investment Agreement for Non-brokered Private Placement with Newmont

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:

  1. Newmont will first subscribe for such number of Units at a price of C$0.12 per Unit in order to increase its holdings in Awalé from approximately 5.75% to 10.39% of the issued and outstanding Shares on a non-diluted basis (the "Top-Up Financing"), being equal to the percentage Newmont held prior to Awalé's May 2023 financings and issuance of Shares in settlement of certain debt, as announced on May 24, 2023 and October 27, 2023. Based on 56,203,009 issued and outstanding Shares, Newmont will subscribe for 2,908,714 Units for an aggregate purchase price of C$349,045.68 in this Top-Up Financing. Each Warrant will be exercisable to acquire one Share (a "Warrant Share") at a price of C$0.20 per Warrant Share for a period of 36 months from closing.
  1. In addition to the Top-Up Financing, the remaining proceeds of the financing will be used to purchase additional Shares at C$0.171 per Share ("Additional Shares" and such financing, the "Subscription Financing"). Based on 56,203,009 issued and outstanding Shares, Newmont will subscribe for 3,558,393 Additional Shares for an aggregate purchase price of C$608,485.21. It is anticipated that if the Top-Up Financing and Subscription Financing are completed on the terms described herein, Newmont's ownership interest will increase to approximately 15.48% on a non-diluted basis.

The proposed transaction, including the terms and conditions thereof, is subject to the performance of certain closing conditions, satisfactory completion of due diligence investigations by Newmont and the receipt of approval by the Exchange. The securities to be issued pursuant to the proposed financing will be subject to a restrictive trading hold period of four months and one day following issuance.

Awalé anticipates closing the proposed financing with Newmont in Q4 of 2023.

Canadian Early Warning Disclosure

Newmont announces that pursuant to the Agreement entered into between Newmont and Awalé today, it will acquire, on a private placement basis: (i) 2,908,714 Units at a price of C$0.12 per Unit for an aggregate purchase price of C$349,045.68 pursuant to the Top-Up Financing, and (ii) 3,558,393 Additional Shares for an aggregate purchase price of C$608,485.21 pursuant to the Subscription Financing. Each Unit is comprised of one Share and one half of one Warrant, and each Warrant will be exercisable to acquire one Warrant Share at a price of C$0.20 per Warrant Share for a period of 36 months from closing.

Immediately prior to entering into the Agreement, Newmont held 3,232,994 Shares, representing approximately 5.75% of the issued and outstanding Shares on a non-diluted basis. Immediately following closing of the Top-Up Financing and the Subscription Financing, assuming that Newmont has not acquired any additional securities of Awalé and Awalé has not issued any additional Shares since the date hereof, Newmont will hold an aggregate of 9,700,101 Shares and 1,454,357 Warrants, representing approximately 15.48% of the issued and outstanding Shares on a non-diluted basis, and approximately 17.40% of the issued and outstanding Shares on a partially-diluted basis.

Newmont will be acquiring the Units and the Additional Shares pursuant to the Top-Up Financing and Subscription Financing for investment purposes, and in the future, Newmont may, from time to time, increase or decrease its investment in Awalé through market transactions, private agreements, treasury issuances or otherwise, depending on market conditions and any other relevant factors. Following the closing of the Top-Up Financing and the Subscription Financing, pursuant to the Agreement, Newmont may, from time to time, designate an individual to serve as a director on the board of directors of Awalé.

Newmont's head office is located at 6900 E Layton Avenue, Suite 700, Denver, CO 80237.

An early warning report will be filed by Newmont in accordance with applicable securities laws and will be available under Awalé's profile on the SEDAR+ website at www.sedarplus.com , and may also be obtained by contacting the persons named below.

About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on the discovery of large high-grade gold and copper-gold deposits. Awalé currently undertakes exploration activities in the underexplored parts of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont covering one permit and one application (the "Odienné Project JV") within the greater Odienné Copper-Gold Project in the Northwest of Côte d'Ivoire, where three significant gold and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The project has multiple pipeline prospects that have similar geochemical fingerprints to Iron Oxide Copper Gold ("IOCG") and intrusive related mineral systems. The 400km2 of granted tenure and 400km2 under application remains underexplored and offers significant upside potential. The Odienné Project JV forms a solid foundation for Awalé to continue exploring in a pro-mining jurisdiction that offers significant potential for district scale discoveries.

Awalé's head office is located at 8681 Clay Street Mission, British Columbia, V4S 1E7.

For additional information, you can visit the Awalé Resources Limited website at www.awaleresources.com, or contact Andrew Chubb at Tel +356 99 139 117.

About Newmont Corporation

Newmont Corporation is the world's leading gold company and a producer of copper, zinc, lead, and silver. Newmont Corporation's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont Corporation is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont Corporation is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Newmont Corporation was founded in 1921 and has been publicly traded since 1925.

At Newmont Corporation, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont Corporation's sustainability strategy and initiatives, go to www.newmont.com.

Media Contacts:

Awalé Resources
Andrew Chubb
+356 99 139 117

Newmont
Jennifer Pakradooni
Jennifer.pakradooni@newmont.com 

Forward‐Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, Awalé's presence in Cote d'Ivoire and ability to achieve results, creation of value for Awalé shareholders, achievements under the Newmont Joint Venture, the initiation of greenfield exploration on the Odienné project permits, the ability of Awalé to obtain Exchange approval in respect of the proposed financing, and the closing of the Top-Up Financing and the Subscription Financing. Although Awalé believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, delays or issues related to the closing of the financing, delays or issues related to the initiation of greenfield exploration on the Odienné project permits, and other risks involved in the mineral exploration and development industry, including those risks set out in Awalé's management's discussion and analysis as filed under Awalé's profile at www.sedarplus.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although Awalé believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. Awalé disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10016/189615_fbde161f44d09a78_001full_200.jpg


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189615

News Provided by Newsfile via QuoteMedia

ARIC:CC
The Conversation (0)
Awalé Announces New Gold Discovery on the Odienné Project

Awalé Announces New Gold Discovery on the Odienné Project

 

Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to announce a new gold-copper discovery at the BBM Target within the Odienné Project in Côte d'Ivoire. BBM is a significant new greenfield discovery for the Company and has excellent scope for rapid expansion. In addition to the new discovery, further significant results with visible gold have been returned for the Charger Target and new mineralization from the first two scout holes at the Lando Target, which lies 10km NW of the new BBM discovery and is associated with the same mineralized corridor (Figures 1 and 2).

 

BBM Discovery Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Awale Commences New Diamond Drill Program at the Odienné Copper-Gold Project, Secures Additional JV Funding with Newmont

Awale Commences New Diamond Drill Program at the Odienné Copper-Gold Project, Secures Additional JV Funding with Newmont

Highlights:

  • 4,000 metre drill program on Awalé's Odienné now underway
  • Awalé secured an additional USD 750,000 in joint venture funding from Newmont Corporation
  • Final Drill results from Odienné's Summer Drill Program expected in early January

Awalé Resources (TSXV: ARIC), is pleased to announce the commencement of a 4000-meter diamond drilling program at the Odienné joint venture project with Newmont. This is a continuation of the Awalé's strategy of exploring and developing high-grade gold and copper-gold deposits in the fertile Odienné region of Côte d'Ivoire.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Awale Closes Private Placement with Newmont

Awale Closes Private Placement with Newmont

Awalé Resources Limited (TSXV: ARIC) ("Awalé") is pleased to announce that it has closed its previously announced non-brokered private placement (December 1, 2023) with Newmont Ventures Limited ("Newmont"), a wholly-owned subsidiary of Newmont Corporation, to raise gross proceeds of C$957,530.89. The proceeds from the private placement 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.

The completed private placement by Awalé consisted of two separate components:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Shares for Debt Issuance and Correction

Shares for Debt Issuance and Correction

 
 

Awalé Resources Limited (" Awalé " or the " Company ") (TSXV: ARIC) wishes to announce that it has issued the balance of 1,812,230 shares in settlement of outstanding debt. Requiring shareholder approval obtained on September 6 th the Company has issued an aggregate of 3,978,882 shares in settlement of $477,465 of debt. The recent shares issued are subject to a hold period trading restriction expiring February 21, 2024 .

 

Additionally, the Company wishes to clarify that in its news release dated May 24, 2023 it incorrectly stated that its incentive stock options granted were exercisable at $0.20 . The 3,605,000 options granted are exercisable at $0.12 per share until expiry.

 

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

 
 

   TSX VENTURE COMPANIES   

 

  SHINE BOX CAPITAL CORP. ("RENT.P")
  BULLETIN TYPE: Resume Trading
  BULLETIN DATE: October 20, 2023  
  TSX Venture Tier 2 Company  

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Metals & Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

Metals & Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

 

Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Metals & Mining Virtual Investor Conference, held July 23 rd and 24 th are now available for online viewing.

 

   REGISTER AND VIEW PRESENTATIONS HERE   

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
FPX Nickel Provides Update on Normal Course Issuer Bid

FPX Nickel Provides Update on Normal Course Issuer Bid

 
 

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on its Normal Course Issuer Bid (" NCIB ") that was announced on December 2, 2024 . Since December 5, 2024 the Company has repurchased a total of 720,000 common shares (" Common Shares ") of the Company at an average price of $0.24 per share under the NCIB.

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The repurchased shares represent progress toward the Company's ability to acquire up to an aggregate of 5,000,000 Common Shares, representing approximately 2% of the Company's issued and outstanding shares, over the 12-month period ending December 5, 2025 . All shares repurchased under the NCIB have been cancelled.

 

Purchases under the NCIB continue to be executed through open market transactions on the TSX Venture Exchange, with the acquisition price determined by the prevailing market conditions at the time of each transaction. Cormark Securities Inc. is managing the NCIB on behalf of FPX.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp.  is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.  For more information, please view the Company's website at   https://fpxnickel.com/.   

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/24/c8569.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Juggernaut Mobilizes 2025 Exploration On Newly Discovered Big One 11 Km High-Grade Gold System That Remains Wide Open - Golden Triangle, B.C

Juggernaut Mobilizes 2025 Exploration On Newly Discovered Big One 11 Km High-Grade Gold System That Remains Wide Open - Golden Triangle, B.C

(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

Vancouver, British Columbia July 23, 2025 TheNewswire - Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) ( the "Company" or "Juggernaut") is pleased to announce that it has mobilized for the 2025 surface exploration program aimed at identifying additional high-grade drill targets on the Big One property (the " Property "), Golden Triangle, British Columbia. This new discovery yielded assays up to 79.01 gt Au (2.54 ozt Au) and 3157.89 gt Ag (101.5 ozt Ag) from >200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that remain open. These veins were identified along the newly discovered 11 km Highway of Gold surrounding the Eldorado gold system on the Big One property. The discovery is located in an area of glacial and snowpack abatement adjacent to the extensive gold-rich porphyry systems at Galore Creek. The 100 % controlled property covers 36,989 hectares in a Tier 1 geologic terrane with tremendous additional discovery potential.

Keep reading...Show less
Heritage Announces LIFE Offering and Provides Corporate and Exploration Update

Heritage Announces LIFE Offering and Provides Corporate and Exploration Update

 

(TheNewswire)

 
      
  Heritage Mining Ltd. 
             
 

  NOT   INTENDED   FOR   DISTRIBUTION   TO   UNITED   STATES   NEWS   WIRE   SERVICES   OR   FOR DISSEMINATION IN THE UNITED STATES  

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Metals & Mining Virtual Investor Conference Agenda Announced for July 23rd and 24th

Metals & Mining Virtual Investor Conference Agenda Announced for July 23rd and 24th

 

Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the Metals & Mining Virtual Investor Conference to be held July 23 rd and 24 th .

 

Individual investors, institutional investors, advisors, and analysts are invited to attend.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×