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| Home : Sahara Energy Ltd. Announces Closing of Private Placement |
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Aug 22
2014 |
Sahara Energy Ltd. Announces Closing of Private Placement |
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CALGARY, ALBERTA--(Marketwired - Aug. 21, 2014) - Sahara Energy Ltd. (TSX VENTURE:SAH) (Sahara) announces that it has closed the previously announced private placements with JF Investment (Hong Kong) Co., Limited (JF Investment) for the purchase by JF Investment of common shares in the capital of Sahara (Sahara Shares), for aggregate proceeds of $16.2 million. Five million Sahara Shares were acquired at $0.12 per share and 195 million Sahara Shares were acquired at $0.08 per share. Upon closing of the two transactions, JF Investment holds 69% of Sahara's outstanding shares. As previously announced in the press release dated August 12, 2014, the directors nominated by JF Investment were elected to the board of directors of Sahara at the annual general meeting of shareholders of Sahara which was re-convened on August 12, 2014. |
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| Source:http://www.marketwired.com/mw/release.do?id=1940626&sourceType=3 |
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