TSX.V: ARIC Last: $0.08 Change: -0.02

AWALE RESOURCES - Issue of Shares

VANCOUVER, May 14, 2018 /CNW/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC), listed on the TSX Venture Exchange (the "Exchange"), reports that the Board has approved and, subject to TSXV acceptance, intends to grant bonuses in the aggregate amount of C$143,000 to certain senior officers and employees of the Company as detailed below. The bonuses will be paid, as agreed, by the issuance of 572,000 shares at a deemed price of 25 cents per share ("the Bonus Shares").

The Bonus Shares will be subject to a 4 month hold period under securities legislation and will be subject to a one year vesting period from date of grant.  

Name

Bonus in C$

Bonus Shares to be
issued in lieu @ 25
Cents per share

Andrew Chubb- COO

100,000

400,000

Sharon Cooper- CFO

20,000

80,000

Kathryn Witter- Company Secretary

4,000

16,000

Other employees

19,000

76,000

Total

143,000

572,000

 

ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED.  
"Glen Parsons"       
Glen Parsons, President and CEO

Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

Cautionary Statement

NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

SOURCE Awale Resources