AWALÉ RESOURCES LTD. – Share Consolidation and Financing
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES
AWALÉ RESOURCES LTD. – Share Consolidation and Financing
November 10, 2021, Vancouver, BC – Awalé Resources Ltd., (ARIC -TSX.V) (the "Company")
the Company wishes to announce that the directors have approved a consolidation of its common
shares on the basis of one new common share for every eight outstanding shares and further plans to
complete a non-brokered private placement of up to 10,417,000 shares to raise gross proceeds of up
to $2,500,000 on a post consolidated basis, at a price of $0.24 per post consolidated common share.
Gross proceeds of up to $2,500,000 will be used for exploration expenses and general working
capital. The recapitalizing of the Company allows for greater focus on the Odienné mineralization.
Planned drilling for December is to understand and unlock the significance of the IOCG style
potential of the copper gold anomalies discovered, as well as the Empire Corridor on the Odienné
project, which is now the main focus of the exploration team.
These transactions will be subject to Exchange acceptance.
Finder’s fees may be paid in accordance with TSX Venture Exchange guidelines.
All securities issued pursuant to the private placement will be subject to a four month hold period
trading restriction
ON BEHALF OF THE BOARD OF DIRECTORS
AWALÉ RESOURCES LTD.
“Glen Parsons”
Glen Parsons, Director
For additional information you are invited to visit the Awalé Resources Limited website at
www.awaleresources.com, or contact Karen Davies, Head of Investor Relations at Tel: 604.314.6270
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. This news
release includes forward-looking statements that are subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered forward looking. Although the Company believes
the expectations expressed in such forward -looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially
from those in forward- looking statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the
United States. The securities have not been and will not be registered under the United States Securities Act
of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.