May 02, 2014 12:36 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2014) - First Sahara Energy Inc. ("Company") (CSE:FSE) announces that it is undertaking a non-brokered private placement of up to $1,000,000 by the issue of up to 50,000,000 million units at $0.02 per unit. Each unit consists of one common share and one common share purchase warrant entitling the holder to purchase one additional common share for $0.05 for 2 years. The Company may pay commissions to brokers who assist in completion of this financing.
The Company applied for an exemption from CSE rules on minimum pricing of private placement, and the application was granted. Funds from this placement shall be used for general working capital, including the review of possible aquisitions.
FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements unless required by law.
First Sahara Energy Inc.David LanePresident and CEO, Investor Relations(647) email@example.com
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