Sunergy's Non-Mining Business Interests Offer Substantial Potential Long Term Cash Flow
March 26 2014 - 8:46AM
Marketwired
Sunergy's Non-Mining Business Interests Offer Substantial Potential
Long Term Cash Flow
BANJUL, THE GAMBIA--(Marketwired - Mar 26, 2014) - Sunergy, Inc.
(the "Company") (OTCQB: SNEY) our core business, remains diamond
and gold mining for cash flow in Sierra Leone and Liberia, but in
addition, we have several non-mining partnerships and agency
agreements and we are pleased to provide this timely update:
The Gambia In The Gambia, our agency agreement to represent a
major Canadian Airport and Harbor security company with operations
in all five terminals at London's Heathrow and Gatwick airports as
well as Frankfurt, Germany and Zurich Switzerland and Abidjan,
Ivory Coast, Africa, is progressing towards closing. A Security
Company representative as well as a Sunergy representative will be
in Banjul the first week of April to seek ratification of a 20-25
year airport concession agreement, where the total airport security
operations are outsourced to this company. The Company proposes to
make an initial direct investment into Gambian treasury of
approximately $6,000,000 US followed with another approximate
$6,000,000 over the life of the contract to continuously update and
upgrade the systems and equipment. Payback is collected from
international ticket sales from the ticketing agencies based on an
added airport tax. The fees begin to be collected and paid
monthly, starting within 8 weeks of closing. Our agency
requires Sunata, our Gambian company, in partnership with ATA
Systems to receive an agency fee every month for the life of the
concession. More news on this when available in a few weeks.
Senegal Sunata Company Limited, our Gambian Partnership company
has just today signed a Non-Disclosure and Non-Compete agreement
with a Facilitator Company from Washington, DC to represent the
Sunata affordable housing systems for development in Senegal. The
project calls for 25,000 affordable homes to be built over the next
five years in Senegal. The Facilitator Company proposes to provide
construction, sales and marketing for the project and represents
that it is able to secure the appropriate financing to build a
factory in Senegal to further reduce overall costs associated with
the housing. The project, as proposed by Sunata, includes a
solar package on each home, on streetlights, and a supplemental
solar farm to achieve power neutral villages that give back as much
power to the grid as is used. This proposal has received a very
favorable initial response and more formal proposals have been
requested to further this project. Our solar presentation may
offer us to assist in the development of a 250MW solar thermal
power facility supported by a 25-30 year power purchase agreement
which we would participate in. We have associates experienced in
this exact business we can call upon when needed. More information
will be forthcoming as available.
Garrett Hale, President and CEO, states: "When we first started
our association with ATA Systems in our affordable housing business
partnership, many did not understand why a little mining company
would do such a thing. Our response was 'it's a humanitarian
project that is able to provide top quality US building code
compliant housing to countries that desperately require this type
of solution, low cost, fast built, 20 year guarantee and the
best part, we can make a profit,' which means it is a sustainable
project, not dependent on charitable donations and the like."
Hale continued, "Since we first announced this association with
ATA on September 19, 2013 (See Press Release), we have received
expressions of interest for housing solutions in Sierra Leone,
Liberia, The Gambia, Senegal and recently, Namibia and we are
pursuing all of these opportunities. In addition, through ATA's
security systems people, we were selected by their contact to
represent our Canadian Airport Security client in The
Gambia. This deal alone will earn us a few million in long
term revenues once finalized. So far our costs are some local
airfare from Sierra Leone to Gambia and back a few times, so we are
very fortunate to have ATA as our partner and these opportunities
on our plate."
Mining activities in both Sierra Leone and Liberia are now
underway. In Sierra Leone, two 8 inch dredges and a land based
operation are ongoing. In Liberia, we have two 5 inch working
dredges, one starts this weekend and another identical dredge
begins by April 15th. Dredgemaster is refurbishing a third dredge
in Sierra Leone that sits ready to begin operations in either
country as needed. Plans to increase our dredge operations are
underway, with six dredges targeted to work this year in each
country. Operating results will be available shortly after the end
of first quarter so as to not delay the 10K filing. Please visit
our website: www.sunergygold.com Update on Sierra Leone operations
will be forthcoming soon.
SUNERGY, Inc., a Nevada corporation (OTCQB: SNEY), is a publicly
listed and traded, production oriented, junior mining company
headquartered in Scottsdale, Arizona, USA that is production
oriented at the earliest possible profitable opportunity and has an
appetite to grow by profitable acquisition. As its core
business, the Company has made a transition from an exploration
only company to a company now focused on production and cash flow.
We now have four dredges operating, 2 in Sierra Leone and 2 in
Liberia. A 5th dredge sits between the two countries awaiting
the most favorable deployment opportunity for fast cash
flow. In addition to our core mining activities, the Company
has used its considerable contacts earned over the past 4 years to
develop non-mining partnerships and agency agreements with major
international businesses representing Airport Security and
Affordable Housing projects and Solar energy projects up to 250
megawatts, in the five West Africa Countries of Ghana, Sierra
Leone, Liberia, The Gambia and Senegal.
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 on
mining concessions or cash flow from any 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