Southridge Clarifies Cinco Minas Mineral Property Ownership
DALLAS, TX--(Marketwire -04/13/12)- Southridge Enterprises Inc. (Pinksheets: SRGE.PK - News ) ("Southridge" or the "Company") announced today that the Company would like to clarify its mineral property ownership status at Cinco Minas in Jalisco, Mexico.
Southridge has completed binding legal agreements pertaining to Cinco Minas securing the surface rights, the property use/access and the mineral concessions. The Company currently has sole occupation and access to the property and all of the assets on the surface via a Surface Rights Agreement ("SFA") and a Property Lease Agreement ("PLA") with the local agrarian community of Cinco Minas (Ejido Cinco Minas) and has established, over the past couple of years, a strong relationship with the community with respect to the mining operations on site. The PLA is generating monthly revenues for the community and has brought an impoverished district into a healthier standard of life. This being the first of many steps to carry out the Company's commitment of social responsibility. Also, the public update of the Cinco Minas mineral concession ownership being duly reflected in Southridge's name is expected at any time. However, the Company has been advised by its legal counsel that the update process typically takes considerable time to complete at the Mexican Mining Registry. It should be noted that the mineral concessions only have tangible value when combined with the surface rights and property access. Southridge has secured all of these necessary components to conduct mining operations at Cinco Minas.
Enough Said & Case Closed Hedge Fund Minions..............
http://finance.yahoo.com/news/southridge-clar...00069.html
