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Zodiac Gold Announces Conclusion of Avesoro Exclusivity Period
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2026) - Zodiac Gold Inc. (TSXV: ZA...
About this update from Zodiac Gold Inc
[{"type":"text","content":"Zodiac Gold Announces Conclusion of Avesoro Exclusivity PeriodVancouver, British Columbia--(Newsfile Corp. - January 7, 2026) - Zodiac Gold Inc. (TSXV: ZAU) (FSE: K19) (\"Zodiac Gold\" or the \"Company\"), a West African gold exploration company announces that the previously disclosed exclusivity period with Avesoro Resources (\"Avesoro\") has ended without the execution of a definitive agreement. Following careful review and consideration of current commodity market conditions and the terms of the agreement proposed by Avesoro, the Board of Directors determined that the proposed transaction was not in the best interests of the Company or its shareholders.Zodiac Gold's CEO David Kol commented: \"We have decided to focus on defining and expanding the potential resources at the Todi Gold Project via an extensive resource development drilling program. After extensive negotiations with Avesoro and taking into account the current unprecedented gold price environment, the Zodiac Gold's board unanimously supports this strategy, which it believes provides a better opportunity for delivering increased shareholder value, particularly in light of recent technical progress and upcoming exploration catalysts.\"Zodiac Gold thanks Avesoro for its engagement throughout the process and remains open to the possibility of working together in the future under circumstances that appropriately reflect the value and growth potential of the Company's assets. In accordance with the terms of the exclusivity agreement between Zodiac Gold and Avesoro, and subject to the receipt of TSX Venture Exchange (the \"TSXV\") approval, Zodiac Gold intends to satisfy its obligation to repay the US$200,000 exclusivity payment that Avesoro previously provided to Zodiac Gold by issuing 1,191,489 Zodiac Gold shares to Avesoro. The number of shares to be issued is based on the Bank of Canada exchange rate of US$1.4 : CAD$1 on October 9, 2025 (being the day immediately prior to the commencement of the exclusivity period) and the $0.235 closing price of Zodiac Gold's common shares on the TSXV on December 18, 2025 (being the day immediately following the expiry of the exclusivity period). The common shares issued to Avesoro will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws.About Zodiac GoldZodiac Gold Inc...