Saccharum Energy Corp. announced that it and Expander Energy Inc. have entered into an Option to Purchase License Agreement dated effective March 4th, 2016 for the purpose of creating a partnership between Saccharum, Expander and a consortium of private investors to build Canada's first small-scale commercial Enhanced GTL® plant at a location in Alberta. The plant is designed to convert Natural Gas and Natural Gas Liquids into premium zero sulfur, high cetane synthetic diesel.

As part of the Transaction, David Ragan and Judy Leverington have agreed to immediately resign as directors of Saccharum and David Pinkman has agreed to immediately resign as Chief Executive Officer. James Ross, the current Chief Executive Officer of Expander, will be appointed to the Board of Directors of Saccharum and Shane Ferster will be appointed as Chief Executive Officer and Director. The appointment of Mr. Ross and Mr. Ferster shall be subject to all required Saccharum board of directors, Expander board of directors, and Exchange approvals.