NASSAU, Bahamas--(BUSINESS WIRE)--Sahara Petroleum Exploration Corp Canada (ISIN CA78710G1019, CUSIP 78710G101, WKN A1CWP6, Deutsche Börse DE:2S6, Frankfurt Stock Exchange 2S6.F) has started to trade publicly on the Deutsche Börse.
On November 18, 2010, Sahara Petroleum Exploration Corp Nassau (134791B) formed a Canadian corporation Sahara Petroleum Exploration Corp Canada (ISIN CA78710G1019). Sahara Canada has issued 1 share of its common stock per 100 shares of common stock held by shareholders in Sahara Nassau.
Sahara Canada markets Biosphere Systems on license from Global Environmental Energy Corp., (DE:GLI; OTC:GEECF.PK www.geecf.ru ) in Europe, Russia, the former CIS, Africa and Australia. Biosphere Systems operate on municipal solid waste, industrial, commercial or agricultural waste streams to provide environmental cleanup, renewable electricity, clean water and sanitary health care.
Sahara Canada has paid €5,000,000 to Global for initial licensing rights to the Biosphere technology. In FY 2011, Sahara Canada expects to acquire further contractual rights to Biosphere technologies. At that time Sahara Canada (ISIN CA78710G1019) will pay a stock dividend to shareholders of record in Sahara Nassau (134791B) with record date November 18th 2010. The value of this stock dividend will be calculated at a later date.
To receive Sahara Canada shares shareholders in Sahara Nassau are required to return their share certificates for reconciliation to Sahara Petroleum Exploration Corp AP59223-0452 Cable Beach Nassau, Commonwealth of the Bahamas.
GEECF is a fully integrated energy company whose interests include electrical power generation and waste management technologies. GEECF holds an exclusive licensing agreement with the inventors, developers and owners of the patented Biosphere Process™ System. GEECF manufactures Biospheres under contract in several countries. Biosphere Development Corp (DE.2BD) markets and operates Biospheres on license in Asia and the Americas North & South. GEECF receives revenues from operational Biospheres through Sales, Royalty and Fee agreements with its licensees and their sublicenses which provide for 25 year revenue streams payable to GEECF.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.