NEW YORK, April 9, 2013 /PRNewswire/ -- Ghana Gold Corp. (PINKSHEETS: GGCO) announced today that it has signed a letter of intent to acquire significant mineral exploration, production and commercialization rights in the Central African Republic.
According to the Letter of Intent, the World Sports Alliance Intergovernmental Organization ("WSA-IGO") will grant to Ghana Gold, mineral exploration, production and commercialization rights to significant gold concessions of the WSA-IGO and, specifically, in connection with the mining concession already granted by the Central African Republic, a member state of the WSA-IGO. The rights to the mining concessions will be granted, in such a manner as to enable Ghana Gold to operate under the permits, agreements and approvals of the WSA-IGO.
The terms of the Letter of Intent are to be confirmed in a mining rights acquisition agreement schedule to be signed on or before April 20, 2013.
The previously announced acquisition of FoundersMM in Ghana, by Ghana Gold has been terminated in order to concentrate on the existing gold exploration and production in Ghana and to successfully conclude the acquisition of the WSA-IGO mining rights in the Central African Republic ("CAR").
"We are pleased to have concluded our negotiations with the WSA-IGO and its project integrator WSA-Global" said Elaine Affleck, Chairperson and CEO of Ghana Gold Corp. "The mining rights represent a tremendous opportunity for our company, our shareholders and partners." further added Mrs. Affleck.
About the WSA-IGO
The World Sports Alliance Intergovernmental Organization created under the 1969 Vienna Convention with the distinguishing factor being that the WSA does not solicit contributions from its Member States but rather is a self-funded organization with a business model based on establishing Public-Private-Partnerships ("PPP"). The World Sports Alliance Intergovernmental Organization currently has 31 member states including but not limited to the Kingdom of Morocco, Dominican Republic, Republic of Panama, the Central African Republic, the Republic of Ghana, Republic of Congo, and the Republic of Chile.
For more information on the World Sports Alliance, please visit the website at www.wsaigo.org
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 a great gold mining opportunities.
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FORWARD LOOKING STATEMENTS
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.