Energy Holdings International Inc. and Wasatah Capital of Riyadh, Saudi Arabia have agreed to form a special purpose corp. with an initial capital of $50 million that will be used to fund oil and gas and energy power acquisitions within the Americas, Middle East and South East Asia regions.
Energy Holdings International, Inc. (EHII) (OTC: EGYH) and Wasatah Capital of Riyadh, Saudi Arabia reached an agreement to form a Special Purpose Corporation (SPC) with an initial capital of US $50 million that will provide acquisition funding for Oil and Gas and energy power projects within the Americas, Middle East and South East Asia regions.
During Wasatah Capital’s visit to (EHII) office in Houston, Mr. Mushthaq Ahmad Ibrahim, CEO of Wasatah Capital confirmed to EHII that Wasatah Capital is fully committed to working with EHII in the Oil and Gas and Energy sector as its financial advisor with future expansion of funding vehicles planned.
Energy Holdings International, Inc. management team has identified a number of target acquisitions in Oil and Gas and IPP power projects that are being pursued and will be acquired when the initial capital raising closes. Energy Holdings International, Inc. will supply acquisition expertise and will be involved in its operations.
Both parties have agreed to concurrently collaborate to establish a private equity fund within the energy and power generation sectors which will benefit all investors in this vital energy sector which fuels the world economy with worldwide demand.
Wasatah Capital is a Closed Stock Investment Company founded in 2007 and authorized by the Saudi Arabian General Investment Authority and regulated by the Capital Market Authority (CMA) with majority shareholding by Saudi investors and its strategic partner being Kenanga Investment Bank Berhad based in Kuala Lumpur, Malaysia.
John W. Adair, Chairman/CEO of Energy Holdings International, Inc. stated, “Wasatah Capital is a strong and reliable partner in the investment world primarily because of the prestigious track record of its elite founders, which consist of a large group of highly experienced business men in both management and the investment fields. Energy Holdings International, Inc. is an American-Saudi company with four of its board members being from Riyahd, Saudi Arabia and includes two members of the Royal Family. EHII is incorporated in the state of Nevada and is a bulletin board listed company (EGYH.OB). Its focus is energy development including Oil and Gas, electrical power plants including wind energy in both the Americas and the Middle East.”
In light of these risks, uncertainties and assumptions, the events anticipated by EHII’s forward-looking statements may not occur, and, if any of such events do, we may not have anticipated the timing of their occurrence or the extent of their impact on our actual results. Accordingly, you should not place any undue reliance on any of EHII’s forward-looking statements. EHII’s forward-looking statements speak only as of the date made and EHII undertakes no obligation, other than as required by applicable law, to update or revise its forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.