Awalé Resources Limited announced that it has received CAD 1.496452 million in funding from Orecap Invest Corp.

On May 24, 2023, Awalé Resources Limited closed the transaction. The company amended the terms of the non-brokered transaction and issued 12,470,431 units at a price of CAD 0.12 per unit for gross proceeds of CAD 1,496,451.72. Each unit consisted of one common share and one-half of one common share purchase warrant.

Each Warrant will be exercisable to acquire one additional common share until May 24, 2026, at a price of CAD 0.20 per warrant share. The transaction included participation from new investor, Orecap Invest Corp. for 8,333,333 units at a price of CAD 0.12 per unit for gross proceeds of CAD 999,999.9 and will receive 4,166,666 warrants entitling it to acquire a further 4,166,666 common shares in the transaction.