Sunergy Announces Finalization of Acquisition of
Mining Interest in Ghana
July 29, 2009 8:00 AM ET
Sunergy Inc. (OTCBB: SNEY) is pleased to announce that it has
entered into an agreement with General Metals Corporation (OTCBB:
GNMT) for the final terms for the acquisition of the Nyinahin Mining
Concession from General Metals. Pursuant to the agreement with
General Metals, as amended, the outstanding consideration payable by
Sunergy consisted of $237,500, which was due on April 30, 2009. In
full and final satisfaction of all amounts, General Metals has
agreed to accept 2,000,000 restricted shares of common stock of
Sunergy. The result is that Sunergy will have provided a total share
and cash consideration of $1,012,500 for the acquisition of the
Concession, given the amounts previously provided.
Nyinahin Mining Concession, located in Ghana, is comprised of the
Nyinahin Mineral Licence LVB 8936/05 and Land Registry No.
1535/2005, and subsequently converted into a Prospecting License
(LVB 3857/08).
The 150 square kilometre Nyinahin Mining Concession is located
between two geological gold belts, the Bibiani Belt to the west and
the Asankrangwa to the east. The property shares borders with
several major mining companies, including Newmont Mining, Napoli
Gold and Dunkwa Continental Goldfields. About 80% of the Nyinahin
Concession lies to the west of the Offin River within the Ashanti
Region of Ghana. The property is accessed via the main Kumasi-Bibiani
trunk road and is located 48km southwest of Kumsasi and 20km
northwest of Bibiani. It falls under the jurisdiction of the Atwima
Mponua District Assembly with headquarters at Nyinahin.
Company Chairman P.K. Rana Medhi said, "We are in the process of
settling all outstanding debts of the Company so that as we raise
future equity we will be able to advance the Company's projects. The
Company is pursuing suitable financing scenarios now that should
enable rapid development of the Nyinahin mining concession."
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 Mining Concession and Sunergy's ability
to make any required payments in regards to the to the Nyinahin
Mining Concession as they become due.
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 Info:
Joseph B. Guerrero
President
Sunergy Inc.
8711 E. Paraiso Dr., Scottsdale, AZ 85255
Phone: 480.477.5810
scottsdaleinvestments@yahoo.com
14362 N. FRANK LLOYD WRIGHT BLVD | SCOTTSDALE AZ
85260
Phone: 480.477.5810 | Fax: 480.477.5811
scottsdaleinvestments@yahoo.com
www.sunergygold.com
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