VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 12/10/13 — First Sahara Energy Inc. (CNSX: FSE) announced today that it is conducting a non-brokered private placement financing to raise up to $2,000,000. The financing will be raised through a combination of the following offerings:
A commission of 10% may be paid to registrants with respect to all or a portion of the financing, which is expected to close on or about December 31, 2013.
The proceeds from the financing will be used to carry out a work program on the Beni Znassen Block in Morocco (see FSE–s December 5 news release), to conduct a 3D seismic program and drill at least one well on the Dover East prospect in southwestern Ontario (see FSE–s December 10 news release) and for general working capital.
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.
Contacts:
First Sahara Energy Inc.
David Stadnyk
President and CEO
(604) 428-0511