Could "STHG" Power Up??? Good News Today!!!
TORONTO, Feb 21, 2012 (BUSINESS WIRE) -- Stratton Holdings, Inc. ( STHG , Trade ) CEO issues the following statement in regards to recent company developments including new management as well as new mining initiatives in Sierra Leone, West Africa.
In December 2011, Cedric Atkinson, of OTC Ventures, acquired Stratton Holdings and was named CEO by its Board of Directors. Under new management, STHG recently changed business models from a holding company to an asset-based company with an emphasis on mineral exploration.
STHG and its partner, Accurate Resource Development Corporation*, have entered into an Alluvial Gold Mining JV in Sierra Leone, West Africa. Atkinson states, "Africa is a land of opportunity right now, especially with increased investment by both the Chinese and Russians that will bring greater access via infrastructure projects etc." This Joint Venture will allow for potential revenues of $10,000,000.00 by year 2, producing up to 5000 oz. of gold, with over 10000 oz. projected by 2014 with revenues growing in excess of $16,000,000.00". As well, the company is now in negotiations with various parties to secure additional concessions.
Stratton Holdings Group acts as a non-operator, funding the JV with a $750,000 investment prior to next mining season and receiving 100% of revenues until it reaches a 20% ROI, with a 50/50 split on net revenues thereafter. Atkinson has stated that, "We have secured various accredited investors to provide the funding for the JV based on our extensive business model / plan support the recoverability reports."
Atkinson comments, "We have completed various JV agreements which will allow STHG to be potentially producing within first year of operations, which is, for the most part, unheard of for a new Gold company." Further details in a press release issued by the company on February 15, 2012.
He adds, "Our teams have a process to profitably bring Gold to market in an efficient manner. Gold is in demand throughout the globe and expectations are that it will continue to rise in price. As long as gold stays above $900 per oz, it will be our main focus until we reach sustainable production level of 100 oz per week."
Steps into Q2 2012 include an official company name change and ticker symbol change with FINRA, which is currently underway. In regards to reporting tier on OTC Markets, STHG execs are working with previous management to attain cash flow statements and shareholder equity reports from 2009-Q3 2011 as the final documents to be furnished to OTC Markets in order to effect a Current Information Status for the company. As well, there are no immediate plans for a reverse split. All the while, Stratton Holdings, Inc. will look to launch one or more mining initiatives toward net revenues by end of year.
He continues, "Management is committed to an aggressive, actionable plan to generate revenues and value for shareholders near-term. Much of this is possible as a result of our collectively beneficial joint venture in West Africa along with negotiations for additional concessions and relationships there."
The company launches its official website next week which will detail company info, press releases, investor information and project updates. Please visit www.sthggold.com and sign up today for shareholder updates.
The company will be issuing an overview of its North American operations in the coming days that will include updates on our active discussions for claims in Northern California as well as prospective acquisitions.
*Note from Management: In a Press Release issued on 2.15.12: our partner in Sierra Leone was listed as Advanced Resource Development Group. Please note that the correct name of our private partner is Accurate Resource Development Group. Thank you for understanding, as this was an oversight by our press release service provider.
Stratton Holdings Inc is a publicly traded company with a focus on Precious Metals mining as well as business operations in other sectors which management feels has potential for long-term growth and/or near-term revenue opportunities.
SOURCE: Stratton Holdings, Inc.
STHG Investor Relations Dale Baeten, 920-273-7941 ir@sthggold.com
