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AFRICAN GOLD GROUP ANNOUNCES 2019 AGM RESULTS AND EXTENSION OF $5 MILLION PRIVATE PLACEMENT

7 October 2019

Toronto, Canada – October 7th, 2019 – African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to report that the nominees listed in the management proxy circular dated September 10, 2019 were re-elected as directors of the Company at the Company’s annual and special shareholders’ meeting. AGG management would like to thank shareholders for their participation and continuing support.

Detailed results of the vote for the election of directors held at the Meeting on October 7, 2019 in Toronto, Ontario are set below.

Nominee % Votes For % Votes Withheld
Stan Bharti 99.189 % 0.811 %
John Begeman 100 % 0 %
Bruce Humphrey 100 % 0 %
Samuel Jonah 89.964 % 10.036 %
Hon. Pierre Pettigrew 89,964 % 10.036 %

Shareholders at the annual meeting also approved the appointment of the Company’s auditors and the Company’s stock option plan.

$5 Million Private Placement

AGG announces that, further to the press release dated August 22, 2019, it has received an extension from the TSX Venture Exchange (“TSX-V“) with respect to the duration of its previously announced private placement (the “Private Placement“). The outside date upon which final acceptance of the Private Placement will be granted by the TSX-V has been extended to November 6, 2019.

About African Gold Group

African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX-V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

For further information please contact:

Stan Bharti

President and Chief Executive Officer

(416) 861 2267

Forward-Looking Statements

This press release contains “forward looking information” within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the intended use of proceeds, closing conditions and timing and other matters relating to the Offering, management’s, the Company’s development and exploration plans for the Kobada project, the timeline for the completion of the camp at the Kobada Project and other statements with respect to the future plans or intentions of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “aims”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.