Dec 03, 2013 09:24:00 (ET)
Sunergy Raises $150,000 Through a Combination of Loans and Equity and Management Goes to West Africa Commencing Operations Dredging for Gold, Diamonds and Black Sands to Produce Cash Flow
SCOTTSDALE, AZ--(Marketwired - Dec 3, 2013) - Sunergy, Inc. (the "Company") (OTCQB: SNEY) is pleased to announce that It has raised $150,000 in a combination of loans and equity in the months of November and December. These funds will primarily be used to enable the Company to commence seasonal dredging operations in Sierra Leone and Liberia. The Dredgemaster, David Price, is leaving the UK for Monrovia, Liberia and will land this afternoon. Garrett Hale also will arrive in Monrovia on December 6(th) with other management personnel and our company geologist from Sierra Leone. Other Management persons are also going to Ghana. All management will meet in Liberia before travelling to Sierra Leone and will commence dredging operations in both countries as soon as water conditions in the rivers allow.
While Ghana does not allow dredging in its rivers for gold and diamonds, alluvial operations are allowed with excavators, trucks and wash plants for recovery. We are currently in discussions to expand our base in Ghana as well as to pursue strategic partnerships with owner/operators of the above equipment for near term profitable operations. We are also considering additional mining concession acquisitions in Ghana at this time.
REORIENTED TO CASH FLOW AND POSITIONED FOR PROFITABILITY
Company Management has dramatically changed its operating plan from an exploration model to a cash flow driven operation. Operating under exploration licenses requires money to be spent without the opportunity to sell products recovered in the exploration phase. A distinct lack of exploration funding industry wide coupled with investor interest being more focused on cash flow today than sometime in the future has encouraged Management to adopt this change. Accordingly, we have entered into support agreements in both Sierra Leone and nearby Liberia to combine our equipment and operating expertise with local artisanal miners to assist in the rapid development of otherwise hand driven operations only. Two benefits occur immediately, one for the local miners who gain support on the recovery of their discovered gold, diamonds and black sands and one for our Company, having the exploration phase already completed and gaining the opportunity to immediately begin operations in already proven lands and rivers which are capable of producing economic quantities of Gold, Diamonds and Black sands containing the rare earth elements. Management believes this enables the company to enter into immediate and sustainable cash flow which is accretive to shareholder prosperity.
Sunergy President and CEO Garrett Hale says: "We now believe that we have established business relations that enable us to be profitable going forward. Dredgemaster being on board is certainly a big part of that and his knowledge and abilities will reward our current shareholders and attract future shareholders to our company's operating strategy. We will get our existing three dredges fully operational and working and then we will build another dozen or so through 2014. We will use generated cash flow to guarantee direct equipment financing, thus avoiding additional shareholder dilution. We are targeting six figure income each month starting in Q3 of 2014 and really believe that this is probable."
INVESTOR RELATIONS CONTRACT
The Company has contracted for the renewable term of one year, Monarch Media, as its full service investor relations firm, to provide strategic counsel, direct the company's outreach and investor awareness and manage our social media sites.
Garrett Hale, President and CEO, comments; "Monarch Media brings a significant level of experience from years of working with a variety of companies in the public marketplace. This group has also worked unofficially with our company over the last three years and is most familiar of the obstacles that have been overcome and the changes put in place to really ready us for success going forward. Their ability to generate increased exposure for our company within the investment community will be a major asset as we continue to grow and expand our business."
Vincent Zaldivar, Managing Member, Monarch Media, stated; "We are very excited to be working with the Sunergy team and have tremendous confidence in their vision and growth strategy. We've been following this Company for years, we believed them when we first encountered this company in 2010 and we have observed closely the changes that have been required to be made to assure success in the future. We look forward to communicating their growth and development initiatives to the investment community. We are also excited to assist the company in servicing their current shareholders and helping them continue to build their shareholder base."
An 8-K will be filed shortly, once final finance proceeds have cleared.
