Sahara Energy Ltd. Provides Additional Information on Proposed Private Placement

Sahara Energy Ltd. Provides Additional Information on Proposed Private Placement 
CALGARY, ALBERTA -- (Marketwired) -- 05/14/14 --   Further to the
press release dated April 9, 2014, Sahara Energy Ltd. (TSX VENTURE:
SAH) (Sahara) is pleased to provide additional information on the
$16.2 million proposed private placement (the Private Placement) to
JF Investment (Hong Kong) Co., Limited (JF Investment). Pursuant to
the terms of the Private Placement, JF Investment has agreed to
acquire 5 million common shares in the capital of Sahara (Shares) at
a price of $0.12 per Share and 195 million Shares at a price of $0.08
per Share. In connection with the Private Placement, JF Investment
will be entitled to nominate up to six directors to Sahara's board.
The board of directors of Sahara will be reconstituted following
completion of the Private Placement to consist of nine directors.   
In conjunction with the Private Placement, Hubei Guochuang Hi-Tech
Material Co., Ltd. (Guochuang), a company based in Wuhan, China and
publicly traded on the Shenzhen stock exchange, has proposed to
acquire JF Investment. Guochuang is engaged in the research,
development, production and sale of modified and emulsified asphalt
in China. Guochuang is at arm's length to Sahara and to current
significant shareholders of Sahara.   
The reconstitution of the Sahara board will follow the completion of
the Private Placement, at the next annual meeting of the Sahara
shareholders which will be scheduled to occur shortly after
completion of the Private Placement. The following current directors
and officers are proposed as director nominees: Mr. Martin Feng,
current President and Chief Executive Officer of Sahara, Mr. Gary
Chang, Ms. Fan (Rose) Gong, and Mr. Kingston Kwek.   
The following five individuals are proposed as the nominees of
Guochuang.  
Mr. Qingshou Gao is Chairman of the board of directors of Guochuang
and has held this position since 2002. Mr. Gao obtained an EMBA in
2010 from Tsinghua University. Mr. Gao also holds a Bachelor Degree
from Zhongnan University of Economics and Law and an Associate Degree
in Electrical Power and Equipment from the Wuhan University of
Transport Science. Mr. Gao is a Senior Engineer of Roads and Bridges
as designated by the Professional Reform Office of Hubei Province.  
Mr. Tao Gao is a current director and General Manager of Guochuang, a
position he has held since 2010. Prior to that, he was a director of
a research institute for Guochuang from 2002 to 2005. He is a Senior
Engineer of Chemical Engineering as designated by the Professional
Reform Office of Hubei Province. Mr. Gao obtained an Agronomy
Specialty from Yangtze University (Hubei Agricultural College) in
1994.   
Ms. Liqun Hao has been a director of Guochuang since 2002. Ms. Hao
earned a bachelor degree in Money and Banking from the Zhongnan
University of Economics in 1999. She is a Senior Accountant as
designated by the Professional Reform Office of Hubei Province.   
Mr. Yachao Peng is Vice General Manager of Guochuang and has held
this position since 2011. In 2012, Mr. Peng was also made a Director
of Guochuang. Prior to this, he worked as a Department Manager and
then Vice-President of the Hubei Branch of the Agricultural Bank of
China. Mr. Yachao obtained an MBA from Wuhan University of Technology
in 2007, his Bachelor Degree in Finance from Zhongnan University of
Economics and Law in 1999 and his Certified Public Accountant
designation in 1995.   
Ms. Panwen Gao is currently an Investment Analyst with a global asset
manager based in New York City. She obtained a Master of Science in
2012 from Worcester Polytechnic Institute and a Bachelors of Science
from the University of Kent in 2009.  
The Private Placement is expected to close on or before June 26,
2014. Completion of the subscription for 195 million shares is
subject to all applicable government and regulatory approvals,
specifically the TSX Venture Exchange and relevant Chinese
governmental authorities, and the approval of the shareholders of
both Sahara and JF Investment.  
Forward Looking Information: This news release contains forward
looking statements related to the proposed financing and nomination
of directors. 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. 
Contacts:
Sahara Energy Ltd.
Martin Feng
President and CEO
(403) 237-5411
martin@saharaenergy.ca 
Sahara Energy Ltd.
Gary Chang
Chief Financial Officer
(403) 456-7259
gary@saharaenergy.ca
 
 
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