news
Sahara Energy issues 475,000 shares for debt
2008-02-06 12:28 ET - News Release
Mr. Peter Boswell reports
SAHARA ENERGY- ANNOUNCES ISSUANCE OF SHARES PURSUANT TO SHARES FOR DEBT AGREEMENTS
Sahara Energy Ltd.'s regulator the TSX Venture Exchange has accepted for filing the company's previously announced shares-for-debt application to satisfy the amounts outstanding to certain trade creditors pursuant to shares-for-debt agreements entered into between Sahara and the creditors. The shares issued pursuant to these agreements are based on a price of 20 cents per share. In total, 475,000 shares of Sahara were issued to the creditors to satisfy all debts owing to such creditors. The shares are subject to a four-month hold period from the date of their issuance.
We seek Safe Harbor.