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Sahara Energy Ltd Updates on Proposed Private Placement

Friday, 1 Nov 2013 08:00am EDT 

Sahara Energy Ltd announced that the previously-announced CAD600,000 private placement with Aozhong Jiye Investment Holdings Limited (Aozhong) is expected to close on or before November 29, 2013, subject to regulatory approvals. The funds were received by Sahara as a non-refundable deposit on a larger investment and the parties have agreed that 5 million common shares of Sahara will be issued at the price of CAD0.12. With respect to an additional investment by Aozhong into Sahara, discussions between the parties are ongoing but are not expected to be concluded before March of 2014. The gross proceeds of CAD600,000 will be used as working capital for Sahara. 

Company Quote

0.0050 +11.11%
24 Jul 2014