Sunergy Repays Asher Enterprises 100% of Outstanding Note Due October 31, 2013 & Prepares to Advance Dredging Operations in S...
October 31 2013 - 1:30PM
Marketwired
Sunergy Repays Asher Enterprises 100% of Outstanding Note Due
October 31, 2013 and Prepares to Advance Dredging Operations in
Sierra Leone and Liberia Aimed at Producing Near Term Cash Flow
From Both Diamonds and Gold
SCOTTSDALE, AZ--(Marketwired - Oct 31, 2013) - Sunergy, Inc.
(the "Company") (OTCQB: SNEY) is pleased to announce that it has
met its obligation in full to repay the outstanding note with Asher
enterprises. This repayment eliminates any effect of the 13G filed
by Asher on September 3, 2013 which would have allowed them to
convert up to 192,472,865 restricted common shares which could have
become free trading immediately, since 6 months has passed from the
date the Company received the loan proceeds. The good news is that
Sunergy Management and Asher Enterprises have cemented a solid
business relationship and Asher is poised to further assist
Management in its short term financing requirements in the
future.
Garrett Hale, President and CEO, says: "Our relationship with
Asher started with a referral from our attorney, who helped several
companies get financial assistance from Asher over the last several
years without any significant problems usually associated with
these kinds of transactions. What Asher has done for us is to both
enable us to pay audit, accounting, legal, transfer agent and XBRL
fees on time so that we are guaranteed to maintain our fully
reporting status with the SEC and OTCQB and to follow up during
each filing period to ensure we can continue to maintain our fully
reporting and compliant status. We are grateful for their support
and professional conduct and thank them for giving us the
opportunity to keep our status and obligations current in all
aspects."
Our current Q'3 filing is scheduled to be timely filed and
Company focus is now on starting our dredging operations in both
Sierra Leone and Liberia when the rains and rivers cooperate. In
Sierra Leone, we have a working wash plant and a dredge that will
deploy to a working site recovering diamonds and gold along the
famous Sewa River, Sierra Leone's most famous diamond river. The
rains usually let up earlier in Liberia, so we are commissioning a
dredge and crew to Liberia next week. The Journey from Bo, Sierra
Leone to Monrovia, Liberia is 175 land miles and will take about a
week to get situated in the St. Paul River about 7 miles north of
Bong, where a $2.6 Billion Iron mine is being put into production.
They have a huge sand requirement that we hope to fill a portion of
from the clean sand byproduct from our diamond and gold dredging
operations.
We have no definitive news on our Pampana concession renewal,
but we are led to believe that a positive resolution will be
forthcoming shortly. We will report as soon as we have any official
information.
The Gambia Cash Flow: The Gambia is an exporter of sand and sand
mining in the rivers is allowed in The Gambia. We are evaluating
setting up a sand mining operation there. We are also currently
discussing the affordable manufactured homes with government
agencies in the Gambia, including the building of hospital and
medical clinic structures and schools throughout the country as
well as small affordable homes for civil servants. Should these
discussions and proposals result in substantial orders, a
manufactured home facility could be built in The Gambia in an
enterprise zone which enjoys a 10-year tax holiday. Homes could be
shipped throughout Africa which would support reciprocal trade
activities for the country. A Special Link is featured on Home Page
Top Right that showcases our Africa Affordable Housing Project.
Please visit the Sunergy website www.sunergygold.com and review
further information such as Company Reports under Projects,
Previous Press Releases and SEC filing information under Investor
Info. Our Facebook and Twitter sites are quite active, so please
visit our website to access those links.
About Sunergy: The Company is an aggressive junior mining
exploration and development Company that is production oriented at
the earliest possible profitable opportunity. We control the
Nyinahin mining concession with a full prospecting license in
Ghana, West Africa and are in the renewal process for our Pampana
River Rare Earth, Gold and Diamond concession in Sierra Leone, West
Africa. We are advancing operations there to the installation of a
commercial pilot plant to separate the gold and selected other
valuable minerals for sale. We have recently formed a partnership
with landowners in Liberia to develop a significant gold, diamond
and black sands project. We have formed a partnership in affordable
housing and building projects suitable for development in Africa.
We are always open to Joint Venture participation on all our
projects. We are production and acquisitions oriented and are
considering several additional projects suitable for near term
production and cash flow.
Regarding Forward-Looking Statements This current report
contains "forward-looking statements," as that term is defined in
Section 27A of the United States Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future, including but not
limited to, any mineralization, development or exploration of the
Nyinahin and Pampana Mining Concessions or cash flow from Liberian
mining operations.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
CONTACT: President: Garrett Hale 707.255.5836
garrettsvp@gmail.com Investor Relations: Steve Parent 480.326.5435
steve@sunergygold.com Sunergy, Inc 14362 N. Frank Lloyd Wright Blvd
Suite 1000 Scottsdale, AZ 85260 Tel: 480.477.5810