Ghana Gold Corp. Closes Acquisition of $5 Billion Gold Mining Property

May 23, 2013, 08:00 ET from Ghana Gold Corp.

NEW YORK, May 23, 2013 /PRNewswire/ -- Ghana Gold Corp. (OTCMarkets: GGCO) announced today that it has officially closed the acquisition of the $5 Billion Gold Property with World Sports Alliance Inter-Governmental Organization.

According to the closed transaction, the WSA owns a total of 500 million restricted shares of the company as well as a $250 million 10-year corporate debenture.  Further to the transaction, a total of 800,098,000 common shares are issued and outstanding.

"We would like to thank the WSA for their support throughout this transaction and we look forward to making this company a leading gold producer," said Mac Shahsavar, Chairman and CEO of Ghana Gold Corp. "We will now immediately undertake to develop a plan to increase production in our newly acquired gold property," further added Mr. Shahsavar.

About Ghana Gold Corp.
Ghana Gold Corp. is a gold exploration and alluvial gold production company with properties in the Republic of Ghana.  Ghana Gold Corp. seeks to expand operations to other neighboring African countries, which have  great gold mining opportunities. 

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Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws.

SOURCE Ghana Gold Corp.