Awalé Resources Ltd (TSX-V:ARIC) and Newmont Ventures Limited have entered into an Investment Agreement for a private placement, aiming to raise C$957,530.89.
The financing involves the issuance of units (comprising one common share and one half of a common share purchase warrant) and additional common shares.
The funds will be allocated to greenfield exploration on the Odienné project permits, situated outside the Newmont Joint Venture, and for general administrative expenses.
This follows Newmont's initial investment in May 2022 through an exploration agreement.