Awalé Resources Ltd. (TSXV: ARIC) 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 as originally announced April 12, 2021.
Pursuant to the MoU’s, US$1 million drilling for equity programme, 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.
Awalé Resources is a gold exploration company focussed on the discovery of large high-grade deposits in the underexplored jurisdiction of Cote d’Ivoire.
West Africa is now accepted as one of the world’s great gold provinces, and is the largest Paleoproterozoic gold producing region, with a near 10,000 tonne gold endowment. Cote d’Ivoire contains 33% of the prospective Birimian greenstone belts in west Africa, but less than 10% of total gold resources, making it an ideal location for new gold discoveries.
For further information please visit: http://www.awaleresources.com/
