VANCOUVER, May 14, 2018 /CNW/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC), listed on the TSX Venture Exchange (the "Exchange"), reports that the Board has approved and, subject to TSXV acceptance, intends to grant bonuses in the aggregate amount of C$143,000 to certain senior officers and employees of the Company as detailed below. The bonuses will be paid, as agreed, by the issuance of 572,000 shares at a deemed price of 25 cents per share ("the Bonus Shares").
The Bonus Shares will be subject to a 4 month hold period under securities legislation and will be subject to a one year vesting period from date of grant.
| Name |
Bonus in C$ |
Bonus Shares to be |
| Andrew Chubb- COO |
100,000 |
400,000 |
| Sharon Cooper- CFO |
20,000 |
80,000 |
| Kathryn Witter- Company Secretary |
4,000 |
16,000 |
| Other employees |
19,000 |
76,000 |
| Total |
143,000 |
572,000 |
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED.
"Glen Parsons"
Glen Parsons, President and CEO
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.
Cautionary Statement
NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
SOURCE Awale Resources
Karen Davies on +1 604.314.6270
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