Dermot Desmond could lose millions as African Gold Acquisition faces major delay

African Gold Acquisition Corporation, the Dermot Desmond-backed blank cheque company, will ask its shareholders for an extension to complete a major corporate deal — without which Desmond could lose millions of dollars.

The company — a special purpose acquisition company, or Spac — raised around $414 million for the purposes of making a major corporate deal, but has to pull it off. By March 2, 2023.

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