VANCOUVER, Dec. 13, 2019 /CNW/ - Awalé Resources Limited. (ARIC-TSX.V) (the "Company" or "Awalé") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") of 11,294,445 Units at a price of $0.18 cents per Unit, raising gross proceeds of $2,033,000. Each Unit consist of one common share of the Company and one-half share purchase warrant, each whole warrant entitling the holder to acquire one additional common share at a price of $0.32 cents until expiry on December 12, 2021. The Warrants are further subject to accelerated expiry terms as previously announced.