Sunridge Receives Final Payments for Asmara Project, Eritrea
Vancouver, British Columbia (FSCwire) - 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.
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SUNRIDGE GOLD CORP.
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“Michael Hopley”
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For further information contact:
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Michael Hopley, President and Chief Executive Officer
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Doris Meyer, Secretary 604-536-2711 ext 6
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To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Sunridge10262016.pdf
Source: Sunridge Gold Corp. (TSX Venture:SGC)
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