AGG Announces Election of Mr. Georges Cohen to Board of Directors & Reports Results of AGM

  • Wednesday, 08 July 2015

African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company")is pleased to announce the appointment of Mr. Georges Cohen to its Board of Directors, effective June 22, 2015.

Mr. Cohen is past President and CEO of the most important subsidiary of Europe's largest multinational IT services company, Cap Gemini, headquartered in Paris France. Mr. Cohen was the founder of Paris based, Transiciel, a multinational IT services company employing over 10,000 engineers that merged with Cap Gemini subsidiary, Sogeti, in 2003. Mr. Cohen became CEO of the merged Sogeti-Transiciel (22,000 employees) and became one of four members of the Executive Committee of Cap Gemini (110,000 employees).

Following the successful integration of Sogeti-Transiciel, Mr. Cohen departed the company to engage in private equity investing, on behalf of his family office, in the highly diversified fields of science engineering and related services, real estate, aerospace, communication, real-time media and finance, including co-founding Altergaz, the second largest gas distribution company in France, that was ultimately sold to Eni S.p.A., an Italian multinational integrated energy company. The Cohen family has also invested in Panhard, a leading European light armored vehicle manufacturer that was sold to Volvo Group, AB. Panhard's military equipment is being used in numerous peacekeeping missions, including its current deployment in Mali, West Africa.

The Cohen family has also developed the Grenadian, Caribbean resort-island known as Calivigny. Mr. Cohen serves as Ambassador of Grenada to the United Nations in Geneva.

At present, Mr. Cohen owns approximately 11.2% of AGG's issued and outstanding common shares on an undiluted basis. Mr. Cohen is also Chairman and CEO and the controlling shareholder of Robex Resources Inc., a gold mining company operating in Mali, West Africa, headquartered in Quebec, Canada and listed on the TSX-Venture Exchange.

Commenting on Mr. Cohen's election to AGG's Board, David Brown, Chairman, stated, "we are delighted to welcome Georges to the Board as his extensive business leadership and experience will be extremely valuable for the Company. We can only benefit from Georges' perspective as a Director as we continue with our goal of initiating gold production at Kobada in 2016."

Mr. Cohen states, "throughout my business career I have succeeded several times in building companies to their fullest potential. I intend to apply this experience to the growth and development of AGG and its Kobada, Mali gold project."

AGG is also pleased to announce shareholders of the Company have approved all matters voted on at the Company's Annual and Special Meeting of Shareholders held on June 26, 2014 being, the:

  1. election of management's proposed slate of directors of the Company;
  2. reappointment of BDO Dunwoody LLP, as the auditors of the Company to hold such office until the close of the next annual meeting of shareholders; and
  3. approving the Company's stock option plan, reserving for grant options to acquire up to a maximum of 10% of the issued and outstanding shares of the Company calculated at the time of each stock option grant.

More specific details of the matters approved at the meeting are set forth in a management information circular of the Company dated May 22, 2015 and posted on the System for Electronic Data Analysis and Retrieval (SEDAR) at www.sedar.com.

About African Gold Group

African Gold Group is a Canadian exploration and development company with a strong focus on West Africa. African Gold Group is positioned to grow in value as it progresses its Kobada Gold Project through a feasibility study, development and into production.

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.

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