DALLAS, Nov. 5, 2012 /PRNewswire/ -- Southridge
Enterprises Inc. (PINKSHEETS: SRGE) ("Southridge" or the "Company")
is pleased to announce today that Southridge Minerals, Inc., its
wholly owned subsidiary, today announced a cash dividend of
$0.00003 per common share, payable on
November 22, 2012 to shareholders of
record at the close of business November 15,
2012. The dividend represents a payout of just over 5% of
the recently reported quarterly net income.
"While it is unusual for a Company like Southridge to declare a
cash dividend at this stage of development, we felt that it was the
right thing to do for our shareholders given the Company's current
cash position and outlook," said Michael
Davies, the President & CEO of SRGE. "The Company is
currently in production at our Cinco
Minas mine and is conducting an aggressive exploration
program at our Gran Cabrera gold & silver property. We thought
it was important to reward our shareholders with a cash dividend,
as they have been very patient while Southridge has evolved into a
precious metals producer. Southridge is in an excellent position
now generating positive cash flows. Consequently, the Company
is moving forward weighing its business direction options and is
exploring and discussing partnership opportunities."
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. (SRGE)
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.
Southridge Enterprises Inc.
Investor Relations
Tel. (214) 699-6255
Email: info@southridgeminerals.com
http://www.southridgeminerals.com
SOURCE Southridge Enterprises Inc.