First Sahara Enters HoA for Moroccan Block

Friday, May 16, 2014

First Sahara Energy Inc. entered into a Head of Agreement (HOA) with Maxim Resources Inc., whereby Maxim will acquire the company’s interest in the Reconnaissance Contract on the Beni Znassen Block Morocco.

Maxim will acquire a 100% interest in the Beni Znassen property and upon completion of the re-registration to Maxim of the Reconnaissance Contract, First Sahara will receive a total of 2,000,000 common shares of Maxim Resources Inc. under the HoA.

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