DALLAS, Jan. 30, 2012 /PRNewswire/ -- Southridge
Enterprises Inc. (Pinksheets: SRGE.PK - News) ("Southridge" or the
"Company") announced that it will be retiring 150 million
shares. This transaction represents a reduction of
approximately 18% of the Company's issued and outstanding common
shares.
Michael Davies, the Company's
President, commented, "By decreasing the total outstanding shares
by over 18%, we intend to increase future earnings per share and
allow our share price to more accurately represent the quality and
profit potential of our assets and operations to the investment
community."
As previously announced on November 08,
2011, the acquisitions of stock under the repurchase plan
will be made from time to time as permitted by securities laws and
corporate legal requirements and subject to market conditions and
other factors. Share purchases will be funded by the Company's cash
and through debt financing. The repurchase plan will continue as
long as periodic management reviews deem it to be fiscally feasible
and the plan may be discontinued at any time.
For further information on the Company's Gold and Silver
projects, visit our website, http://www.southridgeminerals.com
Southridge Investors can access the following Southridge
Minerals social media channels:
YouTube Cinco Minas Mexico Project:
(http://youtu.be/R6P8oght4Ik)
(http://youtu.be/o2LfLaSu8ww)
Facebook:
(http://www.facebook.com/pages/Southridge-Minerals-Inc/163457600376466)
Twitter: (http://twitter.com/SouthridgeSRGE)
About Southridge Minerals, Inc. (Pinksheets: SRGE.PK - News)
Southridge Minerals, Inc. is a U.S.-based mineral exploration
company dedicated to acquiring and developing mineral resources in
geologically permissible and politically stable areas of the world.
The Company seeks out early stage opportunities with good
mineralization indicators that exhibit significant blue-sky
potential. Southridge pursues and advances these projects that are
or will be of interest to mid-size and major producers. By forming
alliances on individual projects, the Company expects to develop
its interests in mines operated by its partners, allowing it to
continue to build value through continued exploration. Southridge
is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in
Mexico and the knowledge of the
geological conditions and formations pertaining to known large gold
deposits that have received very little attention to date. This
comparative advantage, combined with a specific geographical and
mineral focus, will allow for more efficient asset and income
growth in the future for the benefit of shareholders'
investments.
Forward-Looking Statements
Although the Company believes that the forward-looking statement of
beliefs, plans, expectations, and intentions contained in this
press release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's published current and periodic reports.
SOURCE Southridge Minerals, Inc.