SCOTTSDALE, Ariz., Oct. 18, 2012 /PRNewswire/ -- Sunergy, Inc. (the "Company") (OTC.QB:SNEY) is pleased to announce the appointment of Mr. Gary Houck of Napa, Ca. to its Board of Directors and to the Sunergy Management Team. With over 30 years of successful international business experience, Mr. Houck brings a wealth of leadership and management experience as the former Vice President of Sales and Marketing of Makita Power Tools, North America, where he led a sales team of over 200 people which grew the business from $90 MM to $500MM in annual sales. He also was founder and President of Chicago based, MSA LLC. His experience includes international business connections in the USA, Europe, China, Taiwan and Australia.
With extensive participation on company boards, he brings an in depth understanding of strategic planning and successful business development. Sunergy looks to Gary for leadership in investor development and operational oversight. He comes to Sunergy as the company expands its on the ground operations in Sierra Leone.
We are pleased to have Gary Houck join the Sunergy team and the progress that will be energized by his participation.
Gary Houck comments, "I look forward to joining the Sunergy Board and Management Team. I have seen many business opportunities over the years and Sunergy, with both the Gold and Rare Earths elements (REEs), in an area the size of the entire Napa Valley, is simply amazing. I am now learning the Rare Earths marketplace and am excited and encouraged that we will be able to develop a large scale supply of critically needed REEs for the manufacturers that use these materials. My experience in doing business in all the countries mentioned above will accelerate our efforts to gain a foothold as a stable supplier to these global markets."
Chairman P.K. Medhi is taking this opportunity to retire from his position as Chairman of the Board of Directors and as a Director. He has served in this capacity since June of 2009. He has agreed to remain on the Company's Advisory Board and will continue to guide and support the Company going forward. We all wish to thank him for his guidance and wish him the best in his future endeavors.
Sunergy's Board of Directors has three members: Larry Max Bigler, CPA, President, Robert A. Levich, CPG, PG Director and Gary Houck, Director.
Company President, CFO Larry Bigler, CPA comments: "We are pleased to welcome Gary Houck to our Board. The Rare Earths part of our business can benefit tremendously from his experience in marketing, working international contracts and his valuable business contacts throughout the world. In addition, his high level of executive expertise will be a big help in organizing and managing our operations. Gary has a big vision for our future and we have a 140sq. km. Rare Earths and gold concession in Sierra Leone, for starters, to help him fulfill that vision. We intend to grow our portfolios in both Sierra Leone and Ghana.
We have budgeted $100,000 on operations in Sierra Leone between October and December 31, 2012 on our 140 sq. km. Pampana River gold and Ree's concession. During Q1 and Q2 of 2013 we have budgeted an additional $350,000 for both the Pampana operation and other targeted growth projects currently in our sights.
These funds will be raised through a combination of private placements for restricted shares, at a later date, favorable short term cash loans as we have done in the past and gold debentures given $1,700/oz. gold prices. This year's operations will generate new material recovered in this year's operations that will be added to our existing stockpile in preparation for Pilot Plant operations which will commence in Q1 2013. We intend to expand our stockpile significantly prior to start-up of the pilot plant in order to optimize operating efficiency for a better and more representative economic result. Cash flow should begin in Q1 and 2 of 2013 and grow over the balance of the operating season and into years 2-5. The company will also be developing resources through systematic sampling and testing along the river and its benches which will set the stage for potential off-take agreements for the REEs.
More news to follow on this and other Company operations.
Please visit the Sunergy website www.sunergygold.com and review further information such as Company Reports under Projects , Previous Press Releases and SEC filing information under "Investor Info".
Our management team including our Directors, Advisory Board members and on ground management teams have more than 125 years of mining industry experience with junior and mid-tier companies involved in exploration, development and production of precious metals worldwide.
About Sunergy: The Company is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license in Ghana, West Africa and the 140.1 sq. km. Pampana River Rare Earth, Gold and Diamond concession in Sierra Leone, West Africa. We are currently operating dredges on the Pampana Project. We are production and acquisition oriented and are considering several additional projects suitable for near term production in West Africa.
Notice 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.
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: Steve Parent Sunergy, Inc. Investor Relations 480.326.5435 firstname.lastname@example.org
SOURCE Sunergy, Inc.