VANCOUVER, BC, Jan. 6, 2022 /PRNewswire/ - Awalé Resources Ltd.
(TSXV: ARIC) (the "Company" or "Awalé") is pleased to announce that
it has received Exchange approval and has issued 218,249 payment
shares at an effective price of around C$0.23 in settlement of C$49,673.27 in drilling services pursuant to the
Memorandum of Understanding ("MoU") with Geodrill Limited (TSX:
GEO) ("Geodrill") as originally 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 May 4, 2022.
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.
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SOURCE Awale Resources