TORONTO, ONTARIO--(Marketwire - April 5, 2011) - African Gold Group, Inc., ("AGG" or the "Company") (TSX VENTURE:AGG) is pleased to announce that it has retained Torrey Hills Capital, Inc. ("Torrey Hills Capital"), located in Del Mar, California, to act as investor relations consultants to the Company. Cliff Mastricola is the principal of Torrey Hills Capital and will be responsible for activities related to AGG.
Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and micro-cap companies, primarily in the natural resource sector. Torrey Hills Capital will increase awareness about African Gold Group through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow the Company to build and maintain an informed investor audience in both the U.S and Canadian marketplaces.
Torrey Hills Capital will also develop a profile on African Gold Group for coverage on its website, www.babybulls.com, a website developed to showcase and provide exposure for emerging micro-cap companies to an audience of proven micro-cap investors.
"We are excited to partner with African Gold Group," commented Cliff Mastricola, President of Torrey Hills Capital. "Management has a proven record of success and we really like what the Company is doing in terms of its exploration activities along significant gold trends within West Africa. As a result, we believe the investment community will have an interest in the story, particularly as gold and silver continue to challenge new highs."
Torrey Hills Capital has been engaged for a term of six months at a monthly fee of US$7,000. In addition, African Gold Group has agreed to grant options to purchase 250,000 common shares of the Company (the "Options") at a price of CDN$0.90 per common share for a period of three years from the date of grant. The Options shall be subject to the terms of the Company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.
Torrey Hills Capital currently has no direct or indirect interest in securities of AGG, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options.
The appointment of Torrey Hills Capital as an investor relations consultant of AGG and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. To date, the Company controls a total of eleven gold concessions that are consolidated in four distinct standalone exploration projects, of which three projects are located in Ghana and one project is located in Mali, West Africa.
Additional Information is available on the Company's website at www.africangoldgroup.com and on SEDAR at www.sedar.com.
On Behalf of the Board:
Michael A. J. Nikiforuk, President, DirectorNeither 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.