LOS ANGELES--(BUSINESS WIRE)--The Blacksands Pacific Group, Inc including affiliates and subsidiaries ("Blacksands Pacific" or the “Company”) announces that the Board of Directors of the company approved the acquisition of all outstanding common stock shares of the company owned by NIH Group Limited, totaling Forty Nine Million Five Hundred thousand (49,500,000) Class A common stock. This equates to eleven per cent (11%) of the total outstanding common stock of The Blacksands Pacific Group, Inc. which settled on September 30th 2012. It was initially proposed that these interests be acquired by Jefferson III Holdings, LLC; however the Board of Directors of the Company concluded that it was in the company’s best interests to buyback the stock from NIH Group Limited (approval of majority stockholders was obtained).
The Board of Directors of the company further approved the proposed divestment of part of Jefferson III Holdings, LLC’s interest in the company, in a separate transaction, with one hundred and fifty three million (153,000,000) Class A common Stock equating to thirty four per cent (34%) of the total outstanding common stock of the company being divested to Alphablue Holdings, LLC for an undisclosed amount which settled on November 5th 2012.
Jefferson III Holdings, LLC retains one hundred and thirty nine million five hundred thousand (139,500,000) Class A Common Stock which equates to thirty one per cent (31%) of the total outstanding common stock of the company and remains the second majority stockholder following Alphablue Holdings, LLC, which owns thirty four per cent (34%) of the outstanding common stock of the company.
Jefferson III Holdings LLC is currently the second majority stockholder of The Blacksands Pacific Group, Inc. (including subsidiaries) with 31% stockholdings. Jefferson III Holdings LLC is an Investment Corporation with presence in New York and California, United States, Switzerland, and Hong Kong, SAR – China and operates globally. The Corporation was incorporated in Delaware, United States in 2008 as the private investment corporation of Mr. Raheem J. Brennerman. The Corporation maintains interest in various industries including Energy (Oil & Gas), Real Estate, Lifestyle, Hospitality and Finance.
Alphablue Holdings, LLC is a United States Investment Company owned by ALPHABLUE HOLDINGS I, LLC a family office Investment Corporation with interest and holdings in Oil & Gas E & P Companies.
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.