Defense Metals Corp. press release

Awalé Resources Issues first payment shares under MOU Drill for Equity

2021-05-27

TSXV - TSX Venture Exchange · Rare Earth Elements · Neodymium · Praseodymium · Lanthanum · Cerium · Samarium · Europium · Gadolinium · Terbium · Dysprosium · Holmium · Erbium · Thulium · Ytterbium · Lutetium · Scandium · Yttrium · Magnet Rare Earth Elements · Canada · Financing

Canada NewsWire

VANCOUVER, BC, May 26, 2021 /CNW/ - Awalé Resources Ltd. (TSXV: ARIC) (the "Company" or "Awalé") is pleased to announce that it has received Exchange approval to issue 2,732,964 payment shares in settlement of $146,475.13 in drilling services pursuant to the Memorandum of Understanding ("MoU") with Geodrill Limited (TSX: GEO, " Geodrill") as announced April 12, 2021 .

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

The shares being issued are subject to a hold period trading restriction which expires September 26, 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.

SOURCE Awale Resources

View original content: http://www.newswire.ca/en/releases/archive/May2021/26/c1092.html