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.
African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to announce the Company has received a mining license for the Kobada Gold Project, located in Mali, West Africa on July 31, 2015 (“Kobada” or the “Project”).
This is a very significant milestone in the development of Kobada to a producing gold mine and marks the completion of the key permitting stage. The company now has all of the necessary government approvals for the Project’s development.
DETAILS OF THE MINING LICENSE
The Prime Minister of Mali granted the mining license to African Gold Group Mali SARL (AGG Mali), a 100% owned subsidiary of AGG, on July 31, 2015 under Decree 2015-0528. The mining license covers an expansive area of 135.7 square kilometres (52.4 square miles) and is valid for a period of thirty (30) years.
This area covers 100% of the current mineral resource at Kobada, plus the most advanced exploration targets and areas of significant resource potential.