Sahara Energy Ltd. Announces Issuance of Common Shares for Debt
January 07 2011 - 3:53PM
PR Newswire (Canada)
CALGARY, Jan. 7 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./ CALGARY, Jan. 7 /CNW/ -
Sahara Energy Ltd. (TSXV: SAH) ("Sahara" or the "Company") today
announced that it will be seeking regulatory approval for the
issuance of 967,029 common shares ("Common Shares") in the capital
of Sahara in full satisfaction of certain debts, including
applicable interest, aggregating $105,164.38 held by King World
International Holdings Limited. The Common Shares to be issued as
consideration for cancelling the debt will be issued at a deemed
value per Common Share of $0.10875, being the discounted market
price as determined by the closing price of the Common Shares on
the TSX Venture Exchange ("TSXV") on January 6, 2011, the day
before this announcement. Final approval of the issuance of Common
Shares is subject to regulatory approval, including the approval of
the TSXV. 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. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/January2011/07/c9230.html
pPeter J. Boswellbr/ Chief Executive Officerbr/ Sahara Energy
Ltd.br/ Telephone: (403) 232-1359br/ Fax: (403) 232-1307br/ E-mail:
a href="mailto:pete@saharaenergy.ca"pete@saharaenergy.ca/a/p
Copyright
Sahara Energy (TSXV:SAH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sahara Energy (TSXV:SAH)
Historical Stock Chart
From Jul 2023 to Jul 2024