Galiano gold announces buyout of offtake agreement

Vancouver, bc , dec. 4, 2024 /prnewswire/ - galiano gold inc. ("galiano" or the "company") (tsx: gau) (nyse american: gau) is pleased to announce that it has terminated its gold purchase and sale agreement (the "agreement") with red kite opportunities master fund limited ("red kite") for total cash consideration of us$13 million. under the agreement, the company had been required to sell 100% of gold production from the asanko gold mine (the "agm"), up to a maximum of 2.2 million ounces, at a spot price selected by red kite during a nine-day quotational period following shipment of gold from the agm.
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