Sunergy Announces Financing and Operations Update on Mining Projects in Liberia and Sierra Leone
22 July 2014 - 5:02AM
InvestorsHub NewsWire
Company Has Received the Necessary Funding to
Sustain Winter Operations and Standard Seasonal Operations Through
the End of 2014
SCOTTSDALE, AZ,
United States /eTeligis
Inc./ 07/21/2014 -
- Sunergy,Inc. ("Sunergy" or
"the Company") (OTC PINK:
SNEY) (PINKSHEETS:
SNEY) announced today an operations update for our mining
projects in Liberia and Sierra Leone.
Sunergy obtained
the necessary funding through equity to sustain winter operations
and begin working the dry season through the end of 2014, in Sierra
Leone and Liberia, as outlined in the budget culminated through the
efforts of management and under the direction of David Price.
Sunergy is well under way with its winter schedule. David Price
shall oversee operations in Liberia and Sierra Leone as he
continues to travel back and forth to the projects in both
countries which are in close proximity.
Liberia:
Operations move
forward as Sunergy crews continue to work through winter into the
non-rainy season, as the crew has prepared and strategized to work
through the rough conditions. Under the direct management of David
Price, the men are operating diligently and successfully; not only
continuing to define the area in which they have discovered
diamonds and gold, but setting the stage for a full speed operation
when the rainy season stops; a first for Sunergy.
Sierra
Leone:
David Price is
overseeing the repairs of our dredges and small wash plant for
winter deployment. While repairs are in order David is currently
heading up the physical testing "due diligence” as previously
discussed to engage in sustainable production
operations.
Garrett Hale,
President and CEO, commented, "I am more than pleased that we have
operations and productive activities in both Sierra Leone and
Liberia. I want to reiterate that this is truly a new face of
Sunergy ;to be operating not only in more than one country or site,
but to be engaged in winter operations and preparation will allow
Sunergy to launch into full operations as a simple transition once
the rains and rivers subside. After more than a year of taking
office, I have become intrinsically involved in the day to day
operations and am committed now more than ever as I see the
potential of productive operations coming to fruition." Hale also
states, "I still support my previous position that we are entering
into a new phase for Sunergy and in the process of becoming a
sustainable revenue generating company. I am currently, and will
continue, to show my belief through my personal financial
support."
Hale further
states, "After discussions with Sunergy Advisors, I have elected to
convert $20,000 of debt owed to me by the Company, predominantly
from funds that I have directly invested for administrative and
operations costs, for units priced at $0.0040, comprised of one
restricted common share and one share purchase warrant @ $0.0055
exercisable for one year. Given what I know and the confidence I
have in our teams in Sierra Leone, Liberia and The Gambia, I
believe this is a prudent investment for me at this
time."
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. 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.
CONTACT:
Investor
Relations
CSIR
Group,LLC.
(212)386-7082
investors@csirgroup.com
SOURCE: Sunergy,
Inc