NEW YORK, NY(Eteligis Inc.)
NEW YORK, NY, United States, via ETELIGIS INC., 09/02/2014 - -
Sunergy, Inc. ("Sunergy" or "the Company") (OTC Pink: SNEY)
(PINKSHEETS: SNEY) announced today that Management has appointed
new members to its Advisory Board and our mining operations
continue with Housing and Solar Power Projects maturing in West
Africa.
First, we would like to acknowledge the diligent and responsible
efforts of our crews working in Liberia and Sierra Leone. They are
working despite the Ebola infected communities and the torrential
rains, while staying safe. We want to acknowledge the difficulties
during these trying times as our crews continue to give their time
and diligence for the full support of our operations. We have
prepared our equipment and pits in Sierra Leone and Liberia, ready
for full operations when the heavy rains diminish.We want to be
clear that operations are limited or at rest during these heavy
rains. In October, we should be able to move back toward full
throttle on our mining operations. Administration efforts that
support our operations are in full effect and are also supporting
our local communities with food and water while Ebola is still
active.
David Price, Dredgemaster commented, "We have discovered
substantial gold while testing river and land areas in Sierra
Leone, and applications for mining Licenses for those areas are
being prepared and should be completed and approved by end of
September. It has been challenging operating in the rains and
staying clear of the Ebola Virus. The blessing is that we have had
the opportunity to research new areas and have made some
significant new discoveries and friendships. Because of
confidentiality and security concerns more information is not
available at this time, but will be forthcoming once operations are
undertaken with our new licenses. In addition, Sunergy has put
together a humanitarian plan to support and deliver local villages
with Food Aid to assist through these trying times."
New Advisory Board Members
The Board has appointed three new members to the advisory board.
These members were personally selected for their diverse
backgrounds and substantial holdings with Sunergy. These members
are: Lloyd Penrod, Napa Valley property developer and long-time
Sunergy shareholder. James Wienclaw, CPA from New York and
long-time Sunergy shareholder and Arkady Frekhtman, Attorney at law
from New York also a long-time Sunergy shareholder. They will join
the current advisors, Neil Hoffman, and P. K. Rana Medhi.
Lloyd Penrod has decades of real estate development, finance and
management experience in California, Northern Nevada and Texas. He
also has experience working for a core drilling company sampling
for gold and Rare Earths at Mountain Pass, Nevada and operating an
artisanal gold dredge in the gold country of Northern
California.
Jim Wienclaw is a CPA and partner in a national CPA firm.Having
18 years of experience, he advises both public and private
companies on business and tax related matters.In addition, he is
well versed in accounting matters and financial statement
reporting.
Arkady Frekhtman is an attorney with 15 years of experience and
partner in a civil litigation law firm. He advises individuals and
corporations on legal matters including real estate, contracts,
business startups, venture capital, insurance and liability
matters.
Our sixth addition to Sunergy's Advisory Board will be sometime
in the 4th quarter 2014.He has vast experience within the financial
services industry and an expert in areas such as risk management,
market analysis and financial control.
Housing Initiatives
Sunergy already has a joint venture partner to provide
affordable housing and is also discussing alternative building
systems to better enable us to provide the "Best of Breed"
solutions to whatever building situation we are presented with. We
are currently involved with housing proposals in Sierra Leone,
Liberia, Senegal and The Gambia involving the building of over
40,000 homes or dwelling units. A recent meeting held in Atlanta
has led to a possible additional 28,000 homes to be built in the
Ivory Coast.
Our current building Company is working with Chevron in Nigeria
for several thousand homes to be built at the Twin Lakes facility
in Lagos, and have invited our involvement to accelerate the
project. At the NAMEBIS Conference last month in Atlanta, we met
with top government officials from Nigeria and have been requested
to provide a proposal for an initial 10,000 homes. This proposal
will be filed today.
Solar Power Projects
We have been fortunate to have made an association with an
Independent Power Provider (IPP) here in the United States which
has now led to a Joint Venture agreement to develop a solar power
project in Liberia. This same group has expressed an interest in
engaging in a similar deal with us in Nigeria. Meetings this week
should finalize that agreement. We operate in this sector under
confidentiality agreements as well and information will remain
confidential until we sign final documents to do feasibilities in
both countries.
Nigeria and Liberia are member nations in the Obama Power Africa
Initiative which has received $7 Billion US funding support for US
industries to provide power to Africa.We are already working on a
Joint Venture Solar Power Initiative for Liberia which we have just
begun and are working for a similar arrangement for solar
development in Nigeria.
Nigeria has 167,000,000 population requiring at least 10,000
affordable housing units this year with a need going forward of
over 12,000,000 units over the next 5-10 years. It is important to
note that Nigeria's Constitution clearly spells out the State's
responsibility to provide adequate shelter for its citizens.Housing
opportunities range from small single family units to larger
apartment buildings, all of which we and our partners can
accommodate. Management plans an initial trip to Nigeria in a
couple of weeks to advance both Housing and Solar Power
projects.
More information on our various projects and financial condition
will be forthcoming.
About Sunergy:
Sunergy Inc. (OTC Pink: SNEY) (PINKSHEETS: SNEY), a Nevada
corporation, is a junior mining company headquartered in
Scottsdale, Arizona.The Company has made a transition from an
exploration only company to a company currently focused on
production and cash flow. We now have four dredges operating, 2 in
Sierra Leone and 2 in Liberia. An 8th 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. For more information,
please visit www.sunergygold.com
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.
Company Contacts:
Garrett Hale
President, CEO
(707) 255-5836
garrett@sunergygold.com
garrettsvp@gmail.com
Investor Contacts:
CSIR Group, LLC.
(212)386-7082
investors@csirgroup.com
SOURCE: Sunergy
Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=27588
- Link to submission on http://www.eteligis.com