06:30 AM EDT, 09/24/2025 (MT Newswires) -- Gold Fields late Tuesday said its subsidiaries have sold about 50.5 million common shares of Galiano Gold ( GAU ) , representing about 19.5% of Galiano's issued and outstanding shares, at $3 per share for total gross proceeds of $151.4 million.

The sale was made by Marsh Holdings and Gold Fields Orogen Holding as a bought deal block trade to BMO Capital Markets, Scotiabank and CIBC Capital Markets as principals.

Prior to the sale, Marsh held 22 million Galiano shares and GF Orogen held 28.5 million Galiano shares. Following the sale, both entities no longer own or control any Galiano shares.

Under a December 2023 share purchase agreement, Galiano acquired all of Gold Fields' 50% joint venture interest in the Asanko gold mine in Ghana. GF Orogen may, in the future, receive additional Galiano shares in lieu of cash as deferred acquisition consideration under the share purchase agreement.