Sunridge Gold Corp

Published : October 26th, 2016

Receives Final Payments for Asmara Project, Eritrea

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Keywords :   Canada | Eritrea | Finra | K Street |
 
 

Wednesday, October 26, 2016
Sunridge Receives Final Payments for Asmara Project, Eritrea

Sunridge Gold Corp. (the "Company" or "Sunridge") advises that the second and final instalment of US$7.33 million has been received from Sichuan Road & Bridge Mining Investment Development Corp. Ltd. for the purchase of the Company's 60% interest in the Asmara Mining Share Company. In addition, the Company has also received the final accrued interest payment from the Eritrean National Mining Corporation.

Once the obligations of the Company have been settled the Board of Directors will determine and announce the amount and timing of the second and final return of capital the ("Second Distribution") to shareholders and the planned date of the dissolution of the Company.

The Second Distribution will be paid to its shareholders of record (the "Record Date Shareholders") on May 18, 2016 (the "Record Date"). The Company's share register was closed on the Record Date.

Record Date Shareholders include registered shareholders and beneficial shareholders. Beneficial shareholders have their shares on deposit with a stock broker, who in turn hold the shares with a depository such as CDE, CEDE through DTCC, and it is those depositories who are the Record Date Shareholders. Sunridge shares have continued to trade on the OTCQB marketplace and will continue to trade in that marketplace until the Company is dissolved. When Sunridge announces the timing and amount of the Second Distribution, it will file a corporate action notice with the United States Financial Industry Regulatory Authority (FINRA), not less than ten days before the Second Distribution date, so that the beneficial shareholders of the shares held with DTCC on the payment date will be paid the Second Distribution through DTCC.

For additional information on the Company visit our website at www.sunridgegold.com.

SUNRIDGE GOLD CORP.

"Michael Hopley"
Michael Hopley, President and Chief Executive Officer

For further information contact:
Doris Meyer, Secretary 604-536-2711 ext 6

You can also view this News Release on our website at:
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=768605


 
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Sunridge Gold Corp

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CODE : SGC.V
ISIN : CA86769Q1028
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Sunridge Gold is a gold producing company based in Canada.

Sunridge Gold produces gold, copper, silver and zinc in Eritrea, develops gold and silver in Eritrea.

Its main asset in production is ASMARA in Eritrea, its main asset in development is DEBARWA in Eritrea and its main exploration property is BESAKOA in Madagascar.

Sunridge Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 16.8 millions as of today (US$ 13.4 millions, € 11.8 millions).

Its stock quote reached its highest recent level on November 07, 2003 at CA$ 6.50, and its lowest recent point on March 20, 2020 at CA$ 0.03.

Sunridge Gold has 209 950 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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2/4/2014(Asmara)Signs Agreement with Enamco for Asmara Copper-Zinc-Gold Proj...
6/29/2011(Asmara)Restarts Exploration Program on Asmara Project, Eritrea
6/23/2011(Besakoa)Starts Drilling at the Besakoa Copper-Zinc-Gold Project, Mad...
3/17/2011(Debarwa)Extends Depth of the Primary Copper-Zinc-Gold Mineralization...
3/1/2011(Asmara)Receives Positive Metal Recovery Results from the Emba Derho...
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2/7/2011(Asmara)Selects Snowden and GBM to Conduct Prefeasibility Study on t...
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12/1/2010(Debarwa)Provides Update on Debarwa Feasibility Study
1/25/2010(Asmara)And Antofagasta Minerals Commence Drilling At Daero Paulos, ...
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5/18/2016Sunridge's Transfer Agent Closes Shareholder Register
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3/22/2016Sunridge Provides Update on Expected Closing Date for Transa...
1/22/2016Sunridge Receives Shareholder and Warrantholder Approval to ...
11/6/2015IIROC Trading Resumption - SGC, SCG.WT
11/6/2015Sunridge Agrees To Sell Its 60% Interest in Asmara Mining Sh...
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4/15/2015Sunridge Provides Update on the Asmara Project, Eritrea
2/3/2015Sunridge Announces US$32 Million 2015 Budget & Program for A...
11/5/2014Field Work Underway on the Asmara Project, Eritrea
10/9/2014Sunridge Announces the Formation of the Asmara Mining Share ...
8/28/2014Sunridge Gold Corp Retains Renmark for Investor Relations Se...
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6/27/2014IIROC Trading Resumption - SGC; SGC.WT
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3/27/2014Sunridge Gold Increases Post-Tax Value For The Asmara Projec...
3/27/2014Sunridge Gold Increases Post-Tax Value for the Asmara Projec...
3/12/2014Sunridge Gold Grants Options
3/12/2014Sunridge Gold Grants Options
1/15/2013Up Close & Personal With Caza Oil & Gas, Tethys Petroleum & ...
6/15/2011(Asmara)Announces Drill Results from Emba Derho Deposit, Asmara Proj...
6/6/2011(Asmara)Announces Drill Results from Gupo Gold Deposit, Asmara Proje...
5/15/2011Announces New Analyst Coverage
4/28/2011(Debarwa)Announces Drill Results from the Debarwa Deposit, Asmara Pro...
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