VANCOUVER, BC , Nov. 10, 2021 /CNW/ - Awalé Resources Ltd., (TSXV: ARIC) (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.