VANCOUVER, BC, July 30, 2021 /CNW/ - Awalé Resources Ltd. (TSXV: ARIC) (the "Company" or "Awalé") is pleased to announce that it has received Exchange approval and has issued 1,121,270 payment shares in settlement of C$81,250.27 in drilling services pursuant to the Memorandum of Understanding ("MoU") with Geodrill Limited (TSX: GEO), (" Geodrill") as announced April 12, 2021.

Pursuant to the MoU's , US$1 million drilling for equity program, Awalé has the option to pay Geodrill for its services in cash or a combination of cash and/or shares of the Company pursuant to VWAP and Exchange policy governing market discounts.

The shares are subject to a hold period trading restriction which expires December 1, 2021.

ON BEHALF OF THE BOARD OF DIRECTORS
AWALÉ RESOURCES LTD.

"Glen Parsons"
Glen Parsons, Director

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.

Cision View original content:https://www.prnewswire.com/news-releases/awale-resources-issues-payment-shares-under-mou-drill-for-equity-301345396.html

SOURCE Awale Resources

Copyright 2021 Canada NewsWire

Awale Resources (TSXV:ARIC)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Awale Resources Charts.
Awale Resources (TSXV:ARIC)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Awale Resources Charts.