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Awalé Resources Issues payment shares under MOU Drill for Equity

Awalé Resources Issues payment shares under MOU Drill for Equity

Canada NewsWire

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

Cision View original content: http://www.newswire.ca/en/releases/archive/July2021/30/c3948.html