Guest Post | Advt. | Query: info@techrecur.com

Essel Group Middle East to Invest in Simba and New CEO Appointed


Essel Group Middle East DMCC (“Essel Group ME” or “EGME”) and Simba Energy Inc. (“Simba”) are pleased to announce that they have arranged, subject to receipt of regulatory approval, a private placement financing (the “Private Placement”) involving the sale of 34,000,000 units (“Units”) in Simba Energy at a price of $0.05 per Unit to Essel Group ME to raise gross proceeds of approximately $1,700,000. Each Unit is to be comprised of one (1) common share of Simba Energy and one-half of a share purchase warrant, with each full warrant being exercisable to purchase an additional common share of the company at a price of $0.075 per share for a period of two years. Proceeds from the Private Placement will be used for working capital for Simba Energy.

Essel Group ME is a related party to Simba under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”), as Gagan Goel, a Vice-Chairman and a director of Simba, is the Managing Director of Essel Group ME. The Private Placement therefore constitutes a related party transaction under MI 61-101 and Simba is relying upon exemptions from the valuation and minority shareholder approval requirements of MI 61-101 available pursuant to sections 5.5(b) and 5.7(b) of MI 61-101, as Simba is not listed on a senior specified stock exchange and the Private Placement is to raise proceeds of less than $2,500,000. Pending receipt of TSXV approval, Simba plans to close the Private Placement within 21 days from the date hereof.

Punkaj Gupta
Punkaj Gupta

Appointment of New CEO
Simba Energy also announces that Robert Dinning has resigned as CEO of the company effective immediately and that Mr. Punkaj Gupta has been appointed as Simba’s new CEO. Mr. Gupta, who is currently a member of the Board of Directors of Simba, is also the CEO of Essel Group ME. Mr. Dinning will continue to act as President and a director of Simba.

“We are very pleased to have Punkaj Gupta join our management team and take a leadership role. We believe that his appointment will assist us significantly with the development of our assets in various locations in Africa,” said Robert Dinning, President.

“We welcome the appointment of Punkaj Gupta as CEO of Simba. I believe that his appointment represents a step towards both Simba and Essel Group Middle East moving forward on a growth path and aligning their strategies at the grassroots level”, said Gagan Goel, Vice-Chairman of Simba and Managing Director of Essel Group ME.

Essel Group ME has advised that it has recently endeavoured to diversify further with investments into the hydrocarbons resource sector and that it has committed its full support to advance Simba’s African oil and gas portfolio through the exploration and appraisal phases in accordance with each governing production sharing contract (“PSC”) by way of joint operating agreements on a per asset basis.

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

……… .. …..

TRIO STEEL IS ONE OF THE MOST TRUSTED BRAND AND LEADING EXPORTER AND SUPPLIER OF CARBON STEEL, ALLOY STEEL & STAINLESS STEEL PIPES & PIPE FITTINGS MATERIAL. Triosteel is one of the leading Suppliers and Exporters of API 5L Pipe in Singapore. Triosteel also Exports to many countries like Indonesia, Iran, Saudi Arabia & many more. An API 5L pipe is manufactured by adhering to the specifications laid down by the International Organization for Standardization (ISO) 3183.

… …. ….. .

…… ……. … …

……… …. …….

….. …… ….. …….

Visit https://apkgrow.com to find out more regarding apk download

…. …….. … 0

….. …… ………

Our Partners

… …. ….. …

……. ….. …….

.. ……. …….. 0

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

.. ……. …….. .

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

Categories

……. ….. ……..

——————————————–

For the 2012 MLB period, we found an totals forecast Joao’s Renowned Over/Under João Zorro Gonçalves, Zcode Totals Pro, System of the time with progressions that have been successful over 98 98% ... We eventually perfected our over/under program ( Zcodesystemexclusive ), although it h-AS has brought years of investigation. Five Steps to Making a Winning MLB Method: 1. Execute appropriate cash management tools. 2. MLB rules that are comprehend. 3.Extensive testing back to make sure successful longterm results ...

——————————————–

There is always a challenge when you're dealing with the Foreign Exchange Market. That's just the nature of the beast. The best thing you can do is to learn about how the market operates as a whole so that you will be ready to meet these challenges. iq option penipu Never be misled by any profit gains in binary options. This is the number-one way traders end up losing their money and ultimately failing. Remember that the same things that make you laugh can make you cry in this market, and you can lose that $700.

——————————————–

Learning Polish has never been this fun and easy as with our podcasts Learn Polish with Polishpod101 Start today and become conversational in Polish in no time

——————————————–

The Best Website Agen Poker Resmi www.sakupoker.com Terpercaya come join

——————————————–

Do you need edmonton phone systems service ? Call complete communications today!

——————————————–

High-tech solutions for easy start-up of your IPTV/OTT-business

——————————————–

——————————————–

If you want to purchase not only one item, you have a chance to enjoy privileges. There is a sale’ tab on the site which offers a fantastic range of reduced counterfeit watches and accessories, such as sunglasses, cufflinks, watch straps and pens. Luxury Jewelry Replica At MCA.MN On Sale You get a 5% discount if you buy two pieces, this discount increases to 10% if you buy 4 pieces or more. There is free international shipping on all orders on this site. We also offer customers a free return anytime with a 100% money back guarantee.

——————————————–

… …. ….. ..