Fortuna Mining (FSM) said late Wednesday it has acquired about 15 million shares of Awale Resources, a mineral exploration company which owns properties in the Ivory Coast's Odienne Project, for $6 million.
The acquisition gives Fortuna 15% of Awale's shares, the company said. The shares were acquired in a non-brokered private placement at $0.399 each.
Paul Weedon, senior vice president of exploration at Fortuna, said the investment in Awale "strengthens Fortuna's exploration pipeline" in the Ivory Coast.
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