Awalé Resources Ltd (TSX-V:ARIC) closed a non-brokered private placement with Newmont Ventures Limited, a subsidiary of Newmont Corporation, raising gross proceeds of C$957,530.89. The funds will be allocated for greenfield exploration on the Odienné project permits, outside the Newmont Joint Venture, and general administrative costs.
Newmont's shareholdings in Awalé have increased from 5.75% to 15.48% on an undiluted basis and 17.40% on a partially diluted basis.