CDN $728,667 will be used for ongoing exploration expenditure on its projects in Cote D’Ivoire and for general overhead and operating expenses. Insiders of the Company participated in the Offering acquiring, directly or indi rectly, an aggregate of
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
AWALE RESOURCES LIMITED
Financing
Vancouver, BC, April 29, 2019, Awalé Resources Limited. (ARIC -TSX.V) (the "Company" or “Awalé”) is
pleased to announce, subject to Exchange approval, that it has negotiated a non -brokered private
placement (“the “Offering”) of 8,096,300 Shares at a price of CDN $0. 09 per share. Gross proceeds of
CDN $728,667 will be used for ongoing exploration expenditure on its projects in Cote D’Ivoire and for
general overhead and operating expenses.
Insiders of the Company participated in the Offering acquiring, directly or indi rectly, an aggregate of
5,262,900 shares. The participation by insiders in the private placement is considered to be a “related
party transaction” as defined under Multilateral Instrument 61 -101 (“MI 61 - 101”). The transaction is
exempt from the formal va luation and minority shareholder approval requirements of MI 61 -101, as
neither the fair market value of the securities being issued nor the consideration being paid exceeds 25%
of Awalé’s market capitalization.
Early Warning Disclosure
Pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider
Reporting Issues, Mr. Glen Parsons, CEO and director of the Company is announcing the acquisition of an
aggregate of 4,235,800 common shares pursuant to the private placement.
With the acquisition of the private placement shares, Mr. Glen Parsons now holds, directly and indirectly
an aggregate of approximately 17.02% of the outstanding common shares and 18.15% on a fully diluted
basis.
The acquisition of the Company shares by Mr. Parsons was effected for investment purposes. Mr. Parsons
directly and/or indirectly may from time to time acquire additional securities of the Company, dispose of
some or all of the existing or additional securities it holds or will hold, or may continue to hold the current
position.
The early warning report, as required under National Instrument 62-103, contains additional information
with respect to the foregoing matters and will be filed by Mr. Parsons on Awale’s SEDAR profile at
www.sedar.com
All securities issued pursuant to the private placement will be subject to a four month and one day hold
period trading restriction from date of issue.
ON BEHALF OF THE BOARD OF DIRECTORS
AWALE RESOURCES LTD.
“Glen Parsons”
Glen Parsons, Director
2
For additional information you are invited to visit the Awalé Resources Limited website at
www.awaleresources.com, or contact Karen Davies, Head of Investor Relations at Tel: 604.314.6270
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. This news release does not constitute an offer to sell or a solicitation of an offer to
sell any securities in the United States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.