LOS ANGELES--()--The Blacksands Pacific Group, Inc. including affiliates and subsidiaries ("Blacksands Pacific" or the “Company”) announces that the Board of Directors of the company has approved the offer from Jefferson III Holdings, LLC to acquire all the outstanding common stock shares of the company currently owned by NIH Group Limited, totaling Forty Nine Million Five Hundred (49,500,000) Class A common stock equating to eleven per cent (11%) of the total outstanding common stock of The Blacksands Pacific Group, Inc.
The final settlement amount is undisclosed however it is expected to provide an excellent return on investment for the principals of NIH Group Limited, estimated at approx. two hundred and seventy six per cent (276%) return on investment over 29 months. The final settlement date is expected on or before September 30th 2012 (subject to any regulatory approvals).
Jefferson III Holdings LLC is the current majority shareholder of The Blacksands Pacific Group, Inc. (including subsidiaries) with 65% shareholdings. Jefferson III Holdings LLC is an Investment Corporation, with presence in New York, United States, Switzerland, Hong Kong, SAR – China and operates globally. The Corporation maintains interest in various industries including Energy (Oil & Gas), Real Estate, Lifestyle, Hospitality and Finance.
Notes to Editors
About Blacksands Pacific
BLACKSANDS PACIFIC is an international Energy Group. Our businesses include the exploration and production of Oil & Natural Gas, the trading of Crude Oil and Petroleum Products with future plans to provide Oilfield (Energy) Services.
THE BLACKSANDS PACIFIC GROUP, INC. is a Delaware, United States Corporation. Our core asset interests are in the U.S. Gulf Coast, Southern United States, Pacific United States, the Plains States Region, and the Rocky Mountains Region and Canada. Our International subsidiary focuses on our Offshore / International Operation(s), with core focus or interests in the Sub-Sahara (West and East Africa), Indian Ocean with future plans to expand throughout the African Continent. Our geographic core regions are United States, Canada, Africa, South East Asia and the Indian Ocean.