Sunergy, Inc Receives Final SEC/FINRA Approval for 10 for 1 Forward Split to Be Effective 8/24/10
Press Release Source: Sunergy Inc. On Monday August 23, 2010, 2:02 pm EDT
SCOTTSDALE, AZ--(Marketwire - 08/23/10) - Sunergy, Inc (the
- News) reports that it has received final SEC/ FINRA approval for its pending corporate action to enable the Company's common shares to forward split on a 10 new shares for 1 old share basis (10-1, payable upon surrender) effective at tomorrow's open August 24, 2010. The new trading symbol on this date will be SNEYD. Please note that the "D" will be removed 20 business days from tomorrow.
In addition, please be advised that FINRA Rule 6490 (Processing of Company related actions) has been approved by the Securities and exchange Commission. The Rule clarifies FINRA's scope of authority when processing documents related to announcements for Company related actions for non exchange listed securities and to implement fees for such services. Additional information regarding this rule can be found on the following link http://www.finra.org/web/groups/industry/@ip/@reg/@rulfil/documents/rulefilings/p121719.pdf .
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. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Ofin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Ofin river is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, leaving 60-70% to be recovered by modern mechanical operations.
Further information is available on the Company's website www.sunergygold.com
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 the required payments to General Metals 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.