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Thursday, November 24, 2022

African Gold Group Announces Shareholder Approval of Name Change and Share Consolidation, Adoption of Stock Option Plan

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It’s anticipated that on June 15, 2022, the Firm’s title will change from “African Gold Group, Inc.” to “Toubani Assets Inc.” (the “Title Change”). The Firm’s inventory image on the TSX Enterprise Trade can even change to “TRE”. The CUSIP quantity assigned to the widespread shares of the Firm following the title change is 89157R104.
Additionally, it is anticipated that on June 15, 2022, the Firm will proceed with a consolidation of its issued and excellent share capital on the idea of 1 (1) post-consolidation widespread share for every three (3) pre-consolidation widespread shares (the “Consolidation”). Any fraction of a share might be rounded all the way down to the closest complete quantity. The shares will start buying and selling on a consolidated foundation with the brand new CUSIP quantity on June 15, 2022. On account of the Consolidation, the excellent shares of the Firm might be diminished to roughly 72,199,014. The administration of the Firm believes that the proposed share consolidation will place the Firm to achieve larger publicity to buyers that aren’t keen to commerce fairness shares beneath a sure threshold and because of this, improve the liquidity of the Firm.
Adoption of Inventory Possibility Plan On the Assembly, Shareholders additionally permitted the adoption of an amended inventory possibility plan (the “Amended Plan”) for the following yr. The Amended Plan reserves for issuance 10% of the issued and excellent shares of the Firm on a rolling foundation to be issued as choices to buy widespread shares within the Firm. The complete textual content of the Amended Plan is on the market within the Firm’s Administration Data Round dated Could 4th, 2022.

About African Gold Group

African Gold Group is a TSX Enterprise Trade (TSX-V: AGG) listed exploration and growth firm with a deal with constructing Africa’s subsequent mid-tier gold producer. The Firm has an extremely skilled board and administration workforce with a confirmed monitor document within the African mining sector working mines from growth by means of manufacturing. AGG’s principal asset is the Kobada Challenge in southern Mali, which is in a complicated stage of growth having accomplished the 2021 definitive feasibility examination and is focusing on gold manufacturing of 100,000 oz each year. In addition to the preliminary Kobada Gold Challenge, different exploration areas have been recognized on the Kobada, Faraday and Kobada Est concessions, providing potential for a rise in the useful resource. For extra data relating to African Gold Group go to our website at www.africangoldgroup.com.
African Gold Group Inc

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