African Gold Group Inc.(AGG), a Canada-based exploration and development company with a strong focus on West Africa, has announced plans to complete a private offering to raise CDN$1,289,821.85 ($1 million).

The Toronto Securities Exchange (TSX)-listed company is offering 25,796,437 units at $0.05 (US$0.4) each. Each Unit is comprised of one common share and one-half (1/2) of one common share purchase warrant which entitles the holder to purchase one additional common share of AGG for a period of 24 months at a price of $0.075 per common share for the first six months and $0.10 per common share thereafter until the expiry date of the Warrant. No broker or finder fees will be payable in connection with the Offering.

AGG intends to use proceeds of the Offering for the completion of the Feasibility Study for its Kobada Gold Project located in south-western Mali. The securities issued pursuant to the Offering are subject to a regulatory hold period of four months and one day from the date of issuance.

The Offering remains subject to TSX Venture Exchange acceptance of requisite regulatory filings. The Company expects to close on or around March 13, 2015.