Awalé Announces Voting Results from Annual General & Special Meeting of Shareholders and Grant of Options and Share Units
Awalé Announces Voting Results from Annual
General & Special Meeting of Shareholders
and Grant of Options and Share Units
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2024) -
Awalé Resources Limited.
(TSXV: ARIC)
("
Awalé
" or the "
Company
") is pleased to announce the results of voting at its annual
general and special meeting of shareholders which was held on September 17, 2024, in Toronto, ON
(the "
Meeting
"). Full details of all the voting results for the 2024 Meeting are available on SEDAR+ at
www.sedarplus.ca
. The total number of shares represented by shareholders present in person and by
proxy at the Meeting was 29,825,288 representing 34.36% of the Company's outstanding shares.
All matters presented for approval at the Meeting were duly authorized and approved, as follows:
(i)
setting the number of directors at five (5);
(ii)
election of the following five director nominees proposed by management: Karl Akueson, Charles
Beaudry, Andrew Chubb, Anthony Moreau, and Stephen Stewart;
(iii)
reappointment of Davidson & Company LLP as Auditors of the Company and authorization of the
directors to fix their remuneration;
(iv)
approval, by an ordinary resolution of disinterested shareholders, of certain amendments to the
Company's restricted share unit plan (the "Amended RSU Plan"), as more particularly described in
the Company's Information Circular dated August 20, 2024;
(v)
approval, by an ordinary resolution of disinterested shareholders, of the Company's 10% rolling
stock option plan, as more particularly described in the Company's Information Circular dated August
20, 2024.
Stock Options and Share Units
In addition, the Company wishes to announce that it has granted an aggregate 4,055,000 incentive stock
options (the "Options") and restricted share units ("RSUs") (collectively the "Incentives") to directors,
officers, employees, and consultants. The Options are exercisable at a price of $0.45 per share (based
on the closing price on September 18, 2024) for a period of 3 years, expiring September 18, 2027. The
RSUs have various vesting/issuance schedules. An aggregate 2,720,000 Incentives have been granted
to insiders.
Following the award of Options and RSUs, the Company will have an aggregate of 7,551,667 Incentives
issued, representing approximately 8.7% of the issued and outstanding share capital.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high-
grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the
underexplored regions of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully
funded earn-in joint venture with Newmont Ventures Limited ("
Newmont
"), covering one permit and one
application (the "
Odienné Project JV
"), within the greater Odienné Copper-Gold Project in the
northwest of Côte d'Ivoire, where three gold, gold-copper, and gold-copper-silver-molybdenum
discoveries have been made. The Sceptre East and Charger discoveries offer significant potential for
growth with future discovery and resource development drilling. The Odienné Project JV has multiple
pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (
IOCG
) and intrusive-
related mineral systems. The 400 km² of granted tenure and 400 km² under application remain
underexplored and present substantial upside potential. The Odienné Project JV forms a solid
foundation for the Company to continue exploring in a pro-mining jurisdiction that offers significant
potential for district-scale discoveries. The greater Odienné Copper-Gold Project includes an additional
four applications and an option agreement.
The Odienné Project JV
The Odienné Project JV covers one permit and one application within the greater Odienné Gold-Copper
Project and is subject to an earn-in agreement with Newmont
(see May 31, 2022 news release)
.
Through this agreement, Newmont retains the option to earn a minimum 65% interest from Awalé in the
Odienné Project JV in exchange for US$15 million in exploration expenditures. Newmont is funding the
exploration program while Awalé manages the Odienné Project JV during the initial three-year phase.
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
Ardem Keshishian, VP Corporate Development & Investor Relations
+1 (416) 471-5463
The Company's public documents may be accessed at
www.sedarplus.ca
. For further information on the
Company, please visit our website at
www.awaleresources.com
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/223865