African Gold Group Closes Oversubscribed $11.1 Million Private Placement and Announces Results of the AGM - Seite 2

The securities offered under the Offering have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

AGM Results

The Company is pleased to announce that its 2020 annual and general special meeting of shareholders was held on August 6, 2020 (the “Meeting”). A total of 15,842,788 common shares, representing 15.14% of the issued and outstanding common shares of the Company, were represented at the Meeting. The following resolutions were approved at the Meeting:

• Danny Callow, Scott Eldridge, Jan-Erik Back, Pierre Pettigrew and John Begeman were elected directors of the Company for the ensuing year. 
• McGovern Hurley LLP, Chartered Accountants, were appointed as auditors of the Corporation for the ensuing year and the directors were authorized to fix the auditors’ remuneration.
• The Company’s existing stock option plan for the ensuing year, reserving for grant options to acquire up to a maximum of 10% of the issued and outstanding shares of the Corporation calculated at the time of each stock option grant, was approved.
• The special resolution to change the name of the Company from “African Gold Group, Inc.” to “Avion2 Gold Inc.”, subject to regulatory approval and TSX Venture Exchange approval, was approved.

”The Company would like to thank all of its shareholders for their continued support,” stated Mr. Callow. “In particular, as Mr. Bharti did not stand for re-election at the Meeting, I would like to thank Mr. Stan Bharti for his tireless efforts and guidance in setting the Company on the path to success.”

Option Grant

The Company has granted a total of 6,375,000 stock options to certain directors, officers and consultants of the Company pursuant to the Company’s stock option plan. All options vest immediately, and each stock option may be exercised at a price of $0.28 per option for a period of five years from the date of grant. This grant of options is subject to the approval of the TSX Venture Exchange.

Webinar

African Gold Group is hosting an investor webinar to discuss upcoming Phase 3 drilling program at our flagship Kobada Gold Project, located in Southern Mali. The investor webinar will take place on Tuesday, August 18^th, 2020 at 10:00 am (EDT). Management will be available to answer questions following the presentation. Online registration and participation details may be found at the following link: