SCOTTSDALE, AZ–(Marketwired – Jan 7, 2016) – Sunergy, Inc. (“Sunergy” or “the Company”) (OTC PINK: SNEY) is pleased to present this update on our operations for the year ending on December 31, 2015 from CEO & President, Garrett Hale. This update also includes guidance for scheduled 2016 operations.
2015 was a pivotal year for our Company and one in which we saw our first reported revenues from the sale of uncut diamonds. The completion of a number of small diamond shipments in 2015 has helped us establish a reliable working relationship with our foreign buyer and now a formal partnership with them to pursue a Dealer’s License in Sierra Leone for 2016. Based on our success in 2015, we will be able to increase the size and frequency of diamond shipments and generate consistent ongoing revenues from the sale of diamonds.
In late 2015 we added a new Geologist to our team, who confirmed that we should pursue a mining license for a new concession that has already shown significant gold and diamond mineralization and became available in 2015. We have the necessary financing in place to pay for the new Exploration License and to provide the initial operating capital for the new bulk sampling operation. Our mining equipment has been consolidated and we are ready to start the 2016 dry season operations. This new concession will simplify our mining operations in country and will contribute to our Companies’ profitably in 2016 and beyond.
We have modified our diamond mining operations in Liberia to include gold as well for 2016. Some of our finishing equipment is slated to be used initially in Sierra Leone this year, and then moved to Liberia once our bulk sampling operations have fulfilled operational and exploration requirements in Sierra Leone. It is approximately 200 miles by road between operations.
In 2015, Liberia was awarded $256 Million (US) by the Millennium Fund from the US Government. The main purpose of this funding is to rehabilitate Power Distribution Facilities in Liberia. Sunergy Liberia Ltd. and its US based Partner submitted an expression of interest to the Ministry of Lands, Mines and Energy in Liberia, to own and operate a Utility Scale Solar Power Project of 50+ Mega Watts, to add much needed solar power to help keep up with the increasing power demands in Liberia. The project costs are estimated to be $100 million USD. Our proposal offers 100% financing whereby our consortium would design, finance, build, own and operate the proposed solar farm. This proposal should qualify for support from the Obama Power Africa Fund. On August 25, 2015, The Ministry responded and encouraged our consortium to undertake the development of our initial solar power project in Monrovia. If our proposal is accepted, we will build a utility scale Solar Farm at the JFK Hospital once the needed power distribution facilities are reestablished. On November 16, we submitted our proposal to USAID for support of the Solar Farm at the JFK Hospital which is now covered by Obama Power Africa.
Our planned transition from an Exploration Company to an Operating Company is built around the expectation that Sunergy will begin to generate positive cash flow in 2016. Through the preparation of the acquisition of the new Mining License and having assembled the equipment necessary with operating budget in place, our objective in 2016 is to demonstrate the economics of our new operation.
Sunergy’s Global Builders Group (GBG) Investment
In 2015 we acquired 2,000,000 shares in Global Builders Group Inc. (GBG), pursuant to cash investment and debt settlement. Our investment in Global Builders Group Inc. (GBG), will become a source of additional profits for Sunergy in 2016 when GBG’s stock becomes Publicly Traded. Private shares are now selling for $1.00/share.
GBG’s Management Team has used their many years of combined experience in Global Business to create a substantial pipeline of opportunities for the Company. GBG has signed a Letter of Intent and Agreement in Principal with a large U.S. Veterans Organization (‘The Vets Group’) who will fund a $25,000,000 Joint Venture, where GBG will undertake the redevelopment of thousands of homes. This project is designed to put qualified home buyers into now vacant homes and home sites in downtown Baltimore, MD. The stated mission of this initiative is to end homelessness in Baltimore for both veterans and others, and rejuvenate this downtown area to make it attractive to all.
GBG has also signed a global reseller agreement with Refinery Equipment of Texas on its modular oil refinery equipment,www.reftexas.com, and has also finalized a partnership with a multi-billion dollar international crude oil and gas equipment fuel trading company, allowing for exclusive sales and distribution representation globally, except for US and China, for Reftexas equipment. GBG is allowed to sell, just not exclusively, in these two areas. Their initial formal proposal is for 120,000 barrel per day plants, at approximately $400,000,000 USD.
In addition, GBG has been advised by USAID that its Concept Paper for the Post Ebola Rice Proposal for Liberia, filed on November 6, 2015, has been accepted for review and will receive a response in January 2016. This proposal is for an initial 10,000 hectare rice plantation in Liberia. This proposal includes University of Liberia Agriculture School housing over 5,000 students. The proposal provides training for both students and local farmers, and is supported by the Ministry of Agriculture, which will involve support from USAID and the USDA, once final approval is received. Sunergy is invited to participate as a partner in this project which is in response to Ebola relief initiatives supported by US AID.
About Sunergy: Reported Revenue in 2015
Sunergy Inc. (OTC PINK: 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 have reported revenue throughout 2015. In addition to our core mining activities, the Company has developed important relationships over the past four years which has enabled the procurement of non-mining partnerships and agency agreements with major international businesses representing affordable Housing Projects and Solar Energy Projects in the eight West African Countries of Ghana, Sierra Leone, Liberia, Nigeria, Togo, Cote D’ Ivoire, The Gambia and Senegal.
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 or cash flow from Sierra Leone and 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.