African Gold Group Inc.

Published : March 25th, 2013

IGE Resources calls for Extra General Meeting, related to the proposed acquisition of African gold p

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Keywords :   Diamond | Gold | Market | Nickel | Silver |

8.44 AM CET / 25-Mar-2013 / IGE AB (OSE:IGE)

IGE Resources calls for Extra General Meeting, related to the proposed acquisition of African gold project

The board of IGE has as previously communicated a proposal to acquire African gold projects and rights to purchase production plants for alluvial gold and Diamond production. All proposals are conditional on final approval by the shareholders� meeting.

The Board has received a complaint from the Auditor related to this proposal, which on the 22nd of March resulted in their resignation. In KPMG�s letter of resignation they refer to a suspicion of criminal action from the Board. The Board of IGE have no understanding with regard to neither their resignation nor their complaint on the proposal, but has of course taken such accusation seriously and have already appointed a reputable Law firm to prepare a review and appraisal of the legal and technical process and procedures related to the proposed transaction. If this review in any way results in any complaints the Board will take immediate action to rectify such.

The Board considers this proposed acquisition being of significant value to the company in its need to move IGE from its current non-operating status to an operating company with its own cash generation. The Board is convinced that all processes are compliant with both regulatory and stock market regulations. The Board has worked aggressively during the latest months in order to conclude this acquisition and is convinced that these assets will strengthen the existing portfolio of mineral interests in Africa significantly. The proposed deal is still, of course, contingent on the final approval by the shareholders� meeting in IGE.

In consideration of the situation the Board will call for an Extra General Meeting to be held on April 18, 2013 to elect new auditor, present the appraisal of the process, and recommend the shareholders to vote for the proposed transaction.

A more detailed press release regarding the proposed acquisition will be announced on Wednesday the 27th in accordance with the Oslo Stock Exchange regulations.

Ulrik Jansson, chairman of IGE commented; �We are pushing hard to get into production and to get cash flow from the company�s operations and therefore, our intention is to, as soon as possible, complete the acquisition. The action taken by the Auditor is irresponsible and impossible for us to understand at this point. We are waiting for the review that is prepared by the appointed law firm before we decide on which actions to take. The Board�s overall focus is to create value for all our shareholders and to protect the company from potential damage�.

For additional information, please contact:

Ulrik Jansson

Chairman of the Board, IGE Resources AB 

Tel: +46 70 813 22 02

E-mail: ulrik.jansson@crownenergy.se

IGE Resources AB (publ) is a Scandinavian asset management and development company within natural resources. IGE�s portfolio currently consists of several Diamond exploration and production assets in Southern Africa and Nickel Mountain Resources AB (publ) owning Scandinavia�s largest nickel deposit. IGE is headquartered in Stockholm and its shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer to www.ige.se for more detailed information.



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African Gold Group Inc.

EXPLORATION STAGE
CODE : AGG.V
ISIN : CA00829A1066
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African Gold Group is a gold exploration company based in Canada.

African Gold Group holds various exploration projects in Ghana.

Its main exploration properties are BAGOE - EAST, BAGOE - WEST and KOBADA in Mali and NYANKUMASI, MANKRANHO and ASANKRANGWA in Ghana.

African Gold Group is listed in Canada and in United States of America. Its market capitalisation is CA$ 48.9 millions as of today (US$ 39.1 millions, € 34.3 millions).

Its stock quote reached its highest recent level on April 02, 2004 at CA$ 3.40, and its lowest recent point on April 12, 2019 at CA$ 0.01.

African Gold Group has 326 100 000 shares outstanding.

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Financings of African Gold Group Inc.
3/18/2015Announces Closing of Private Placement
3/11/2015Announces Private Placement
9/5/2013Announces the Closing of $1,500,000 Private Placement Offeri...
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Option Grants of African Gold Group Inc.
4/5/2011, Engages Torrey Hills Capital for Investor Relations
Project news of African Gold Group Inc.
8/23/2013(Kobada)Clarifies Disclosure on Kobada, Mali Gold Project Press Rele...
5/3/2010(Asankrangwa)Airborne Survey Of Asankrangwa Holdings -- Contiguous And O...
4/8/2010(Asankrangwa)To Commence Airborne Survey Of Asankrangwa Holdings -- Conti...
2/18/2010(Kobada)Drilling At Kobada, Mali Focused On Surpassing 1,000,000 Oz ...
1/20/2010(Kobada)Multi-Phase Work Program Focused on Surpassing 1,000,000 oz ...
3/24/2010(Kobada)Intersects 18 Meters of 7.04 G/T Au In Zone 1 and 21 Meters ...
10/28/2009(Mankranho)Newmont Confirms Structures That Host Yamfo North-East & Sub...
9/23/2009(Kobada)Kobada "Zone 1" Resources Estimate Will Increase
5/21/2008(Kobada)Files Initial 43-101 Mineral Resources Estimate For "Zone 1"...
4/9/2008(Kobada)Intercepts 9 Meters Of 25.8 G Au/T
Mineralization Identi...
4/2/2008Releases Initial 43-101 Mineral Resources Estimate for "Zone...
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Corporate news of African Gold Group Inc.
1/6/2016African Gold Group, Inc. Announces Sale of Ghanian Assets fo...
10/28/2015African Gold Group, Inc. Announces Metalurgical Test Work Co...
9/3/2015African Gold Group Announces Closing of Private Placement
8/5/2015African Gold Group, Inc. Announces Grant of Kobada Mining Li...
7/8/2015African Gold Group, Inc. Announces Election of Mr. Georges C...
2/6/2015African Gold Group to Participate in "Doing Business in Mali...
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11/25/2014African Gold Group, Inc.: Updated Preliminary Economic Asses...
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7/29/2014African Gold Group Updates on Kobada Feasibility Study
7/23/2014African Gold Group Inc. Completes 2014 Kobada Field Season-B...
7/17/2014African Gold Group, Inc., Appoints Misha Collins Feasibility...
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6/19/2014African Gold Group, Inc.: Bulk Sampling Results Identifies S...
5/22/2014African Gold Group Closes Over-Subscribed Non-Brokered Priva...
4/29/2014African Gold Group Strengthens Mine Development Team With th...
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3/25/2013IGE Resources calls for Extra General Meeting, related to th...
2/5/2013(Mankranho)Completes Sale of Mankranho, Ghana Concession for US$4,000,0...
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10/10/2012(Mankranho)Announces Sale of Mankranho, Ghana Concession for US$4,000,0...
5/1/2012May 01/2012
3/29/2012March 29/2012
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11/29/2011Nov 30/11
10/26/2011Featured In The Financial Post,
10/25/2011Oct 25/11
9/14/2011Sept 14/11
8/25/2011Featured In The Financial Post, Mining News
7/13/2011July 13/11
7/13/2011Positive Preliminary Economic Assessment Generates $216.9 Mi...
6/1/2011June 01/11
6/1/2011Southern Step Out Hole Intercepts 96 Meters of 1.35 g/t Au f...
4/5/2011April 05/11
3/29/2011March 29/11
3/22/2011March 22/ 11
3/22/201167 RC Drill Holes Shipped to Lab; 3,980 m of Trench Results ...
3/16/2011Re-Adopts Shareholder Rights Plan
4/29/2008 included in The Gold Newsletter, April 2008 Edition
4/16/2008Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Mete...
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