VANCOUVER, BC , May 3, 2021 /CNW/ - Awalé Resources Ltd. (TSXV: ARIC) (the "Company") wishes to announce that it closed the 1 st tranche of its non-brokered private placement financing with the issuance of 17,207,200 units for gross proceeds of $1,032,430.00 . The 17,207,200 common shares issued pursuant to this closing are subject to a hold period expiring on August 28, 2021 and the 8,601,100 warrants issued forming part of the unit, are exercisable at $0.12 and will expire on April 27 , 2023.