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VANCOUVER, BC,
April 4,
2023 /CNW/ -
Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC)
following the recent announcement Awalé wishes to announce that it
has received approval from the TSXV for an extension to
April 14th for closing its
brokered private placement of units as announced on January 30, 2023. The placement was
originally priced at $0.155 per Unit,
this has been reduced to $0.15 per
Unit.
AWALE RESOURCES LIMITED.
"Glen Parsons"
Glen Parsons, President and CEO
About Awalé Resources
Awalé is an exploration company focused on the discovery of
large high–grade gold and copper gold deposits. The Company
currently undertakes exploration activities in
the underexplored parts of Côte d'Ivoire. Awalé's success to date at the Odienné Project
in the Northwest of Côte d'Ivoire
has culminated in a fully funded earn–in Joint Venture
with Newmont (the "Newmont JV")
covering the Odienné Project
where two primary targets
for world–class discoveries have been made: i)
the gold–rich Empire corridor and ii) the recently defined Charger,
Sceptre and now Lando Iron Oxide Copper Gold ("IOCG")
targets. Parts of the remaining 200km2 of granted tenure and 400km2
under application remains
underexplored and offers significant IOCG potential. The Newmont JV
forms the solid foundation for the Company to continue looking at
new opportunities in new jurisdictions which offers significant
potential for district scale discoveries.
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 the Company's presence in
Côte d'Ivoire and ability to achieve results,
creation of value for Company
shareholders, achievements under the Newmont
JV, planned drilling, commencement of operations, the timing and
completion of the Offering, the use of proceeds of the Offering and
the availability of regulatory approvals for the Offering. Although
the Company 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.
The Company cautions investors that any forward–looking
statements by the Company are not guarantees of future results or
performance and that actual results may differ materially from
those in forward–looking statements as a result of various factors,
including the potential inability to obtain required regulatory
approvals and satisfy other applicable closing conditions; possible
adverse impacts due the global outbreak of COVID–19; the Company's
inability to generate sufficient cash flow or raise sufficient
additional financing requirements; volatility in metals prices; the
ability of the Company to retain its key management employees and
skilled and experienced personnel; conflicts of interest;
litigation or other administrative proceedings brought against the
Company; actual or alleged breaches of governance processes or
instances of fraud, bribery or corruption; exploration, development
and mining risks and the inherently dangerous nature of the mining
industry, and the risk of inadequate insurance or inability to
obtain insurance to cover these risks and other risks and
uncertainties; property and mineral title risks including defective
title to mineral claims or property; changes in national and local
government legislation, taxation, controls, regulations and
political or economic developments in Canada and Côte d'Ivoire; equipment
shortages and the ability of the Company to acquire necessary
access rights and infrastructure for its mineral properties;
environmental regulations and the ability to obtain and maintain
necessary permits, including environmental authorizations and water
use licences; extreme competition in the mineral exploration
industry; delays in obtaining, or a failure to obtain, permits
necessary for current or future operations or failures to comply
with the terms of such permits; risks of doing business in
Côte d'Ivoire, including but not limited to, labour, economic
and political instability and potential changes to and failures to
comply with legislation; the Company's common shares may be
delisted from the TSX Venture Exchange if it cannot
maintain compliance with the applicable listing requirements; and
other risk factors described other filings with Canadian securities
regulators, which may be viewed at www.sedar.com. Any
forward–looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws,
the Company disclaims any intent or obligation to update any
forward–looking statement, whether because of new information,
future events or results or otherwise.
Cautionary Statement
NEITHER 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.
SOURCE Awale Resources