Awalé Announces Update FOR Shareholder Participation Right
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
AWALÉ ANNOUNCES UPDATE FOR SHAREHOLDER PARTICIPATION RIGHT
Toronto, Ontario–(Newswire – April 19, 2024) Further to the news release of April 17, 2024, Awalé Resources (TSXV: ARIC)
(“Awalé” or “the Company”) announces further details and an increase regarding the participation right of its current
shareholder. The shareholder has the right to maintain its percentage holding post offering. In order to account for the
full Underwritten Offering (including the Underwriter Option), a maximum of approximately 3,989,323 Units (as defined
herein) at a price of $0.62 per Unit may be issued to this shareholder for proceeds of approximately $2,473,380, which is
an increase of 1,021,403 Units from the April 17, 2024 news release. There is no assurance the shareholder will exercise
the full participation right. The Units are identical to those announced in the April 17, 2024 news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities
in the United States of America. The securities have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United
States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered
under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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. The Company 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”), where four significant gold and gold-copper-silver-molybdenum discoveries
have been made.
The Odienné Project JV is located within Awalé’s greater Odienné Copper-Gold Project (the “Project”) which consists of
2462 km2 of tenure in the Northwest of Côte d’Ivoire. The Newmont JV consists of 400km2 of granted tenure and 400km2
under application, or approximately ⅓ of Awalé’s total holding in the district. The Company announced 26 g/t gold over
57m, including 45.7 g/t gold over 32m from 165m downhole at the Charger Prospect and the discoveries have significant
scope for growth and resource development. The Project has multiple pipeline prospects that have similar geochemical
fingerprints to Iron Oxide Copper Gold (IOCG) and intrusive related mineral systems that offers significant potential for
district scale discoveries. Cautionary Note Regarding Forward-Looking Information
ON BEHALF OF THE BOARD OF
AWALE RESOURCES LIMITED
“Andrew Chubb”
Andrew Chubb, CEO For additional information you are invited to visit the Awalé Resources Limited website at
www.awaleresources.com, or contact Andrew Chubb CEO (+356) 99139117, [email protected].
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 incl ude but are not limited to statements regarding, the Company’s presence in Cote
d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV,
works on other properties, planned drilling, commencement of operations, the timing and completion of the Underwritten
Offering, the exercise of the shareholder’s participation right, the exercise of the Underwriter Option, the use of proceeds
of the Offering and the receipt of regulatory approvals for the Of fering, including the approval of the TSX Venture
Exchange.. 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. 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 require d regulatory or
governmental approvals, and other risks involved in the mineral exploration and development industry, including those
risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at
www.sedar.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 the Company 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. The Company 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.