Sunergy, Inc. ("Sunergy" or "the Company") (OTC Pink: SNEY) (PINKSHEETS: SNEY) announced today that Management representatives attended the NAMEBIS Summit in Atlanta, Georgia last Thursday and Friday and spent one on one quality time with Nigeria Government Officials from the President to Ministers of Housing and Power and senior Access Bank officials.
The theme of this Summit was Housing, Infrastructure and Power. Follow up on Saturday resulted in requests for real proposals with workable numbers for both Affordable Housing and Solar Power Projects. Sunergy already has a joint venture partner to provide affordable housing and is recently in formal discussions with a substantial US based Solar Power provider to propose joint ventures for Solar Power in West Africa. Management is now working on current proposals for housing and Solar Power projects in Nigeria.
Nigeria is a member nation in the Obama Power Africa Initiative which has received $7 Billion US funding support for US industries to provide power to Africa. We are working on a Joint Venture Solar Power Initiative for Liberia which we have just initiated and are working for a similar arrangement for solar development in Nigeria. Liberia will progress at a slower pace, due to the Ebola Virus interruption of normal business activities there, but Nigeria is ready to advance to the next steps.
Nigeria has 167,000,000 population requiring at least 10,000 affordable housing units this year with a need going forward of over 12,000,000 units over the next 5-10 years. It is important to note that Nigeria's Constitution clearly spells out the State's responsibility to provide adequate shelter for its citizens. Housing opportunities range from small single family units to larger apartment buildings, all of which, we and our partners can accommodate. Through our building partners, we already have an opportunity on the ground for a substantial housing development with a major US Based oil company operating in Nigeria.
Our solar power approach is to propose the integration of solar power installations at each and every hydro-electric installation in place now and over the next 5 years. These installations will require on site management as well, which our partners are capable of providing.
Garrett Hale, President and CEO states, "Our ongoing investigations and due diligence regarding affordable housing and Solar Power operations in Africa have led us to this moment where we demonstrate real solutions in these West African countries. Unprecedented US support for US based companies to provide business and trade solutions to African Governments and private business has been the result of the US-African Business Summit held in Washington, D.C. last week. The Namebis Summit in Atlanta came directly from that springboard. In Nigeria, we have been invited, on a priority basis, to engage in the formulation and completion of solid business projects with the complete support of the US Department of Commerce, Export-Import Bank, and other US government support agencies."
Hale went on to say, "Our Mining activities have remained uninterrupted to-date, and we have also been fortunate with the ability to expand our operations and deploy our equipment, which was in for winter repair. More information on mining activities will be released shortly, but I am personally very excited about our non-core business expansion and development opportunities at this time. These operations could produce substantial sustainable long term revenue for Sunergy and are not to be taken lightly."
More information on our various projects and financial condition will be forthcoming.
Sunergy Inc. (OTC Pink: SNEY) (PINKSHEETS: 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 now have four dredges operating, 2 in Sierra Leone and 2 in Liberia. An 8th dredge sits between the two countries awaiting the most favorable deployment opportunity for fast cash flow. In addition to our core mining activities, the Company has used its considerable contacts earned over the past 4 years to develop non-mining partnerships and agency agreements with major international businesses representing Airport Security and Affordable Housing projects and Solar energy projects up to 250 megawatts, in the five West Africa Countries of Ghana, Sierra Leone, Liberia, The Gambia and Senegal. For more information, please visit www.sunergygold.com.
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 or cash flow from 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.
CSIR Group, LLC.
SOURCE: Sunergy Inc.