|By Marketwired .||
|July 14, 2014 01:25 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/14/14 -- Sahara Energy Ltd. (TSX VENTURE:SAH) (Sahara) announces that it has adjourned the annual general meeting of shareholders (the Meeting) scheduled to take place today, July 14, 2014 and that the Meeting will be reconvened on August 12, 2014. The Meeting was called to consider annual matters and to elect the directors nominated by JF Investment (Hong Kong) Co., Limited (JF Investment).
As previously announced in the press release dated May 14, 2014, JF Investment is entitled to nominate six directors pursuant to the terms of the private placements of common shares in the capital of Sahara to JF Investment, for aggregate proceeds of $16.2 million. Sahara and JF Investment have not closed on the private placements which are pending regulatory approvals.
Forward Looking Information: This news release contains forward looking statements related to the annual general meeting and the private placement. 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.