Welcome!

News Feed Item

Sahara Energy Ltd. Provides Additional Information on Proposed Private Placement

CALGARY, ALBERTA -- (Marketwired) -- 05/14/14 -- Further to the press release dated April 9, 2014, Sahara Energy Ltd. (TSX VENTURE: SAH) (Sahara) is pleased to provide additional information on the $16.2 million proposed private placement (the Private Placement) to JF Investment (Hong Kong) Co., Limited (JF Investment). Pursuant to the terms of the Private Placement, JF Investment has agreed to acquire 5 million common shares in the capital of Sahara (Shares) at a price of $0.12 per Share and 195 million Shares at a price of $0.08 per Share. In connection with the Private Placement, JF Investment will be entitled to nominate up to six directors to Sahara's board. The board of directors of Sahara will be reconstituted following completion of the Private Placement to consist of nine directors.

In conjunction with the Private Placement, Hubei Guochuang Hi-Tech Material Co., Ltd. (Guochuang), a company based in Wuhan, China and publicly traded on the Shenzhen stock exchange, has proposed to acquire JF Investment. Guochuang is engaged in the research, development, production and sale of modified and emulsified asphalt in China. Guochuang is at arm's length to Sahara and to current significant shareholders of Sahara.

The reconstitution of the Sahara board will follow the completion of the Private Placement, at the next annual meeting of the Sahara shareholders which will be scheduled to occur shortly after completion of the Private Placement. The following current directors and officers are proposed as director nominees: Mr. Martin Feng, current President and Chief Executive Officer of Sahara, Mr. Gary Chang, Ms. Fan (Rose) Gong, and Mr. Kingston Kwek.

The following five individuals are proposed as the nominees of Guochuang.

Mr. Qingshou Gao is Chairman of the board of directors of Guochuang and has held this position since 2002. Mr. Gao obtained an EMBA in 2010 from Tsinghua University. Mr. Gao also holds a Bachelor Degree from Zhongnan University of Economics and Law and an Associate Degree in Electrical Power and Equipment from the Wuhan University of Transport Science. Mr. Gao is a Senior Engineer of Roads and Bridges as designated by the Professional Reform Office of Hubei Province.

Mr. Tao Gao is a current director and General Manager of Guochuang, a position he has held since 2010. Prior to that, he was a director of a research institute for Guochuang from 2002 to 2005. He is a Senior Engineer of Chemical Engineering as designated by the Professional Reform Office of Hubei Province. Mr. Gao obtained an Agronomy Specialty from Yangtze University (Hubei Agricultural College) in 1994.

Ms. Liqun Hao has been a director of Guochuang since 2002. Ms. Hao earned a bachelor degree in Money and Banking from the Zhongnan University of Economics in 1999. She is a Senior Accountant as designated by the Professional Reform Office of Hubei Province.

Mr. Yachao Peng is Vice General Manager of Guochuang and has held this position since 2011. In 2012, Mr. Peng was also made a Director of Guochuang. Prior to this, he worked as a Department Manager and then Vice-President of the Hubei Branch of the Agricultural Bank of China. Mr. Yachao obtained an MBA from Wuhan University of Technology in 2007, his Bachelor Degree in Finance from Zhongnan University of Economics and Law in 1999 and his Certified Public Accountant designation in 1995.

Ms. Panwen Gao is currently an Investment Analyst with a global asset manager based in New York City. She obtained a Master of Science in 2012 from Worcester Polytechnic Institute and a Bachelors of Science from the University of Kent in 2009.

The Private Placement is expected to close on or before June 26, 2014. Completion of the subscription for 195 million shares is subject to all applicable government and regulatory approvals, specifically the TSX Venture Exchange and relevant Chinese governmental authorities, and the approval of the shareholders of both Sahara and JF Investment.

Forward Looking Information: This news release contains forward looking statements related to the proposed financing and nomination of directors. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...