African Gold Group, Inc. announced a non-brokered private placement of up to 25,000,000 units at a price of CAD 0.14 per unit for gross proceeds of up to CAD 3,500,000 on October 25, 2021. Each unit consists of one common share and one half of one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share of the company at an exercise price of CAD 0.25 for a period of 24 months from issuance. The transaction is expected to close on or about November 5, 2021. The company may pay finder's fees with the policies of the TSX Venture Exchange. All securities issued in the transaction will be subject to a hold period of four-months and one day. The transaction is subjected to a number of conditions, including without limitation, receipt of TSXV approval.