U.S. markets closed

  • S&P Futures

    4,186.50
    -6.50 (-0.16%)
     

  • Dow Futures

    34,237.00
    -43.00 (-0.13%)
     

  • Nasdaq Futures

    13,675.00
    -25.25 (-0.18%)
     

  • Russell 2000 Futures

    2,245.90
    -1.20 (-0.05%)
     

  • Crude Oil

    65.80
    -0.41 (-0.62%)
     

  • Gold

    1,897.00
    -4.20 (-0.22%)
     

  • Silver

    27.73
    -0.15 (-0.53%)
     

  • EUR/USD

    1.2191
    -0.0012 (-0.10%)
     

  • 10-Yr Bond

    1.5740
    +0.0100 (+0.64%)
     

  • Vix

    17.36
    -1.48 (-7.86%)
     

  • GBP/USD

    1.4110
    -0.0008 (-0.06%)
     

  • USD/JPY

    109.0990
    -0.0310 (-0.03%)
     

  • BTC-USD

    37,396.23
    -1,844.48 (-4.70%)
     

  • CMC Crypto 200

    976.20
    -47.41 (-4.63%)
     

  • FTSE 100

    7,026.93
    -2.86 (-0.04%)
     

  • Nikkei 225

    28,449.03
    -193.16 (-0.67%)
     

Awalé Resources Issues first payment shares under MOU Drill for Equity

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

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

Cision
Cision

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

Recommended Stories

  • Analysis-Amazon's Washington critics set to pounce on MGM deal

    WASHINGTON (Reuters) -Amazon's move to buy the MGM movie and TV studio will provide fuel for the Seattle company's critics in the nation's capitol who complain it is already too big and powerful, but experts said the deal poses few classic antitrust concerns. A little more than an hour after the deal was announced, Republican Senator Josh Hawley blasted Amazon.com as a "monopoly platform" on Twitter, adding, "This sale should not go through," and that the company shouldn't be allowed to buy anything. And Democratic Senator Amy Klobuchar, who chairs the Senate's antitrust panel, called for "a thorough investigation to ensure that this deal won't risk harming competition."

  • In Desperate Move, Venezuela Tries to Make Fuel in Oil Upgraders

    (Bloomberg) -- In the latest desperate attempt to deal with fuel shortages that have crippled Venezuela’s economy, government leaders are trying to repurpose two massive oil upgraders to make a main ingredient for gasoline instead.With U.S. sanctions preventing the country from importing naphtha, a petroleum product its refineries use as feedstock, state-owned Petroleos de Venezuela will seek to make its own at upgraders designed to process heavy crude into lighter oil for the international market, according to documents seen by Bloomberg and people with knowledge of the plan, who asked not to be named because the information isn’t public. The plants are the Petropiar partnership with Chevron Corp. and the Petrocedeno venture with Total SE and Equinor ASA.Venezuela’s acute fuel shortage has forced businesses and factories to shut, while drivers line up for hours or even days to fill up. The conversion of the Hugo Chavez-era crude upgraders marks another dramatic departure from a time when the OPEC-founding nation was a top oil exporter, now reduced to one of the poorest nations in the Western Hemisphere under the U.S.-sanctioned Nicolas Maduro regime.The work at the Petropiar and Petrocedeno plants, which strip away sulfur and other impurities from the sludgy heavy crude from the Orinoco Belt, started in April, the people said.It’s unclear how PDVSA can pull the overhaul off without the help of foreign partners or international contractors, which can no longer do business with the battered, cash-strapped state oil producer. The company has struggled to even perform basic maintenance at its plants, which lack replacement parts it hasn’t been able to import.PDVSA, Chevron and Total didn’t immediately reply to requests for comment. A representative from Equinor deferred any questions to PDVSA. Refineries typically make their own heavy naphtha as a stage in the processing of crude into gasoline. PDVSA units have long lost that ability because of broken equipment. The country’s upgraders are in better shape because they were operated with the help of foreign partners until recently. Plus, the processing of heavy oil into so-called synthetic crude at the plants already involved some naphtha production.To convert the upgraders into feedstock suppliers for refineries, which will involve installing new equipment and pipelines, PDVSA is hiring local contractors, the people said. The overhaul will not prevent the plants from also being used for their original purpose of making synthetic crude.The plants will initially feed PDVSA’s Cardon and Puerto La Cruz refineries with 30,000 barrels a day of heavy naphtha, the documents show. A plan to lay pipelines that will allow supplies to reach 112,000 barrels a day are still being discussed with contractors, the people said.It’s not the first time the upgraders have been repurposed since U.S. sanctions have practically shut off Venezuela from the international crude market.PDVSA’s four upgraders were converted into simpler blending plants in mid-2019. The shift meant halting the production of the Petrozuata and Zuata Sweet light-oil blends to focus on Merey 16 heavy oil, mostly sold on the Asian market.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Ripple Waiting for SEC Suit Resolution Before Going Public, Says CEO

    "The likelihood that Ripple is a public company is very high at some point," Brad Garlinghouse said at Consensus 2021.

  • PayPal Will Let Customers Withdraw Crypto, Exec Says

    "We want them to be able to take the crypto they acquired with us and take it to the destination of their choice," says Jose Fernandez da Ponte.

  • Cryptocurrencies don't pose a financial stability risk: Carney

    Former Bank of England Governor Mark Carney said cryptocurrencies carry little risk from a financial stability standpoint, citing limited exposure for large banks. But, he warned about the need for additional action if the digital tokens “move more towards the center.”

  • Gamestop, AMC short sellers lost $754 million after Tuesday's rally - Ortex

    Investors shorting meme stocks GameStop and AMC Entertainment are estimated to have lost $754 million on Tuesday alone as the shares rallied, data from financial analytics firm Ortex shows. Shares in GameStop, which was at the heart of the so-called "stonks" retail trading mania earlier this year, rose 8% to nearly $225 in U.S. premarket trading on Wednesday, a day after rising 18%. Shares in cinema operator AMC soared 39%.

  • Iran bans cryptocurrency mining for 4 months amid power cuts

    Iran has banned the energy-intensive mining of cryptocurrencies such as Bitcoin for nearly 4 months, President Hassan Rouhani said on Wednesday, as the country faces major power blackouts in many cities. "The ban on the mining of cryptocurrencies is effective immediately until September 22 ... Some 85% of the current mining in Iran is unlicensed," Rouhani said in a televised speech at a cabinet meeting. Bitcoin and other cryptocurrencies are created through a process known as mining, where powerful computers compete with each other to solve complex mathematical problems.

  • I’m 49, my wife is 34, we have 4 kids and $2.3 million saved. I earn $300K a year but ‘lose a lot of sleep worrying about tomorrow’ — when can I retire?

    The good news: Retirement at 58 may very well be within your reach, financial advisers said. One of the highest-priority tasks you will face if you retire at 58 (or any time before Medicare is available at 65 years old) is health insurance. There are a few options to be covered, including saving now for whatever cost it will be in the open market later on; taking on a part-time job with health benefits so that you can take advantage of the healthcare, earn a little extra income but still have more freedom than a full-time job requires; or have your wife take on a job that provides the family health insurance (if she isn’t already).

  • Get rich as a renter: 5 ways to build wealth without buying a house

    Owning a house isn’t the only pathway to success and fulfillment.

  • DBS Bank CEO: We Have Twice as Many Engineers as Bankers

    Banks and financial regulators should facilitate the tokenization of the financial system, DBS CEO Piyush Gupta said during Consensus 2021.

  • Ford says it will spend $30 billion to fuel its electric vehicle future

    Ford sets some ambitious electric vehicle and financial goals at its latest investor day. Here's what we know.

  • Mastercard Exec Shares Thoughts on Crypto Rewards, Stablecoin and CBDC Plans

    Jessica Turner, the storied payment network’s fintech executive, reflects on mainstream crypto adoption at Consensus 2021.

  • Kim Kardashian says she's 'not responsible' for labor disputes in lawsuit against her

    A new lawsuit filed by maintenance workers and gardeners claims reality star Kim Kardashian violated labor laws at her Hidden Hills home.

  • Activist fund Bluebell calls on Vivendi to sweeten Universal spin-off

    An activist investment fund wants French media group Vivendi to sweeten the planned spinoff of Universal Music Group with an extra cash dividend that would be more advantageous to minority shareholders. Vivendi, controlled by French tycoon Vincent Bollore, is planning to cash in on its crown jewel - the world's biggest music label, which it has valued at 33 billion euros ($40.43 billion) - as streaming revenues fuel growth. In a transaction involving an Amsterdam listing, Vivendi aims to distribute 60% of Universal's capital in kind to existing shareholders, which will allow Bollore retain a strong grip on the group.

  • Gold Price Futures (GC) Technical Analysis – Testing Long-Term Retracement Zone at $1899.20 to $1951.30

    The direction of the August Comex gold futures contract early Tuesday will be determined by trader reaction to the long-term 50% level at $1899.20.

  • M&S to shut a third of core store estate over a decade

    Marks & Spencer plans to have about 30% fewer combined clothing and food stores in 10 years time as more sales shift online, but will still open new shops when prime sites - like six former Debenhams outlets - become free, it said on Wednesday. CEO Steve Rowe said that would be achieved by "rotating the estate" at 110 locations. About 35 full line stores will be relocated, about 45 will become food stores and about 30 sites will be exited over a ten year period, he told reporters after M&S published 2020-21 results.

  • Xiaomi revenue surges 55% in Q1, fills market gap left by Huawei

    SHANGHAI (Reuters) -Chinese smartphone maker Xiaomi Corp reported first-quarter revenue growth of 55% on Wednesday, exceeding analyst expectations as it nabbed market share from one-time sector leader Huawei Technologies Co Ltd. Revenue rose to 76.88 billion yuan ($12 billion) in the quarter ended March 31, from 49.70 billion yuan a year earlier. Adjusted net profit rose to 6.1 billion yuan, versus market estimates of 3.97 billion yuan.

  • VW says Lamborghini is not for sale after reported $9.2 billion bid

    The non-binding offer sets out terms for the purchase of Automobili Lamborghini by Switzerland's Quantum Group AG, which has formed a consortium with London-based investment firm Centricus Asset Management, Autocar reported. The report, citing offer documents, also said that the consortium would include job assurances for existing Lamborghini employees for up to five years and the creation of 850 new jobs.

  • U.K. Businesses in China Seek More Clarity on Cybersecurity Laws

    (Bloomberg) -- The British Chamber of Commerce in China called on Beijing to provide more clarity on draft regulations on cybersecurity, saying the lack of information is holding back business operations.“Fundamentally, the legislation remains vague,” St John Moore, chairman of the chamber, said in an interview on Bloomberg TV Wednesday. Specifically, a lack of detail on requirements on cross-border data transfers has made businesses err on the side of caution and limited their ability to build global research and development operations, he said.The chamber on Wednesday released a position paper on U.K. business in China, highlighting some of the challenges around cybersecurity and information technology. The uncertainty and administrative burden that foreign companies face in this area could increasingly hamper China’s ambition to become a leader in multinational innovation, it said in the report.Moore also cited China’s travel restrictions as another top concern of businesses, saying there needs to be a way to ensure safe travel between the U.K. and China. This should be a matter of priority as the number of vaccinated people in the U.K. increases and China’s virus situation stays largely under control.State competition continues to inhibit the growth of British companies operating in China, he said. The Chinese government should also step up efforts to expand pilot programs to liberalize cross-border capital flows and develop an attractive environment for global talent.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • China’s Largest Listed Property Manager Raises $2 Billion

    (Bloomberg) -- Country Garden Services Holdings Co. raised $2 billion, paving the way for more acquisitions as China’s largest listed property services manager seeks to reach an ambitious revenue goal.In the biggest additional fundraising in the sector, the Foshan, Guangdong-based company agreed to sell HK$10.5 billion in new shares and issue HK$5.04 billion of zero-coupon convertible bonds due 2022, exchange filings showed Tuesday. That’s more than earlier offered, according to terms for the deal obtained by Bloomberg News.Click here for more details on the transaction.The proceeds will be used for acquisitions, expansion of new businesses and general purposes. In March, President Li Changjiang said the company aimed to reach 100 billion yuan ($16 billion) in revenue by 2025, up from 15.6 billion yuan last year. Fundraising is expected to drive the target, CMB International Capital Corp. property analyst Jeffrey Zeng said. Real estate service providers, whose businesses range from housekeeping to parcel deliveries, are taking advantage of lofty valuations to raise cash and expand through takeovers, and competition has become fierce. In January， China Evergrande Group’s property services unit bought a rival for 1.5 billion yuan to help meet its ambitions of increasing profit by 50% this year.Country Garden Services announced plans in March to take mid-sized rival Sichuan Languang Justbon Services Group Co. private to expand its business. The deal would use 8.3 billion yuan, more than half of its cash buffer at the end of last year, according to CMB.While many companies are seeking to buy competitors, others are looking to sell. Chicago-based Jones Lang LaSalle Inc. is weighing a plan to offload its property management business in China for at least $500 million, Bloomberg reported last month.At HK$75.25 apiece, the share placement represents a 6% discount to the closing price of Country Garden Services in Hong Kong on Monday. The stock fell 1.8% to HK$78.60 at 11:48 a.m. on Tuesday.Country Garden Services now trades 47 times projected earnings this year, among the highest in the industry, according to data compiled by Bloomberg. Listed in Hong Kong in 2018, it’s the biggest publicly traded property management services firm, with a market value of HK$238 billion.(Updates with analyst comment in the third paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.