VANCOUVER, BC , March 31, 2021 /CNW/ - Awalé Resources Ltd. (TSXV: ARIC) (the "Company") wishes to announce that, subject to regulatory approval, the Company intends to complete a non-brokered private placement of up to 33,333,333 units at a price of $0.06 per unit for gross proceeds of up to $2,000,000 . Each Unit will consist of one common share and one-half share purchase warrant; each whole share purchase warrant will be exercisable at a price of $0.12 to purchase a common share of the Company until expiry 24 months from issuance. The gross proceeds of the private placement will be used to fund further development of its Odienné and Bondoukou projects in Cote d'Ivoire and general working capital.