SOURCE: Sungro Minerals, Inc.

December 23, 2009 14:13 ET

Sungro Minerals, Inc. Announces Appointment of Frederick J. Pucillo as Interim CEO

WARWICK, RI--(Marketwire - December 23, 2009) - Sungro Minerals, Inc. (OTCBB: SUGO) today announced the appointment of an Interim CEO.

Effective December 21st, 2009 the Company entered into a Letter of Agreement with Mr. Frederick J. Pucillo, pursuant to which Mr. Pucillo agreed to serve as Interim CEO and Board member. His appointment was approved and ratified by the Board. Mr. Pucillo's duties include overseeing the Company's ongoing financing for project funding and execution of its Business Plan.

In addition, he will be instrumental in the search for a permanent CEO with experience and knowledge of the "Carlin-type Trend" in Northern California and more specific, the Conglomerate Mesa Claims.

Mr. Pucillo has some 20+ years experience serving various mid-size to Fortune 100 companies in the Banking and Finance area, having managed a $110 million loan portfolio with 10,000 accounts, and other capital funding and business development opportunities. He is thoroughly familiar with general ledger, profit and loss, payroll, cash management, cash flow analysis and budgeting, as well as negotiation of promising opportunities. Mr. Vahlsing Jr., the company's CFO stated, "Having Fred will help us properly fund our operations during the project development phase and with his accounting and finance background assist us during this very critical stage of cash management. We look forward to his stewardship and vision as we pursue this exciting period in our company's history."

Mr. Pucillo's bio will be posted shortly on our newly updated website, which should become active within the next few weeks.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. In general, estimates of 3P (proven, possible & probable) reserves are based upon a number of factors and assumptions made as of the date on which the estimates were determined, such as geological, technological and engineering estimates and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking estimates. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, and the level of expenses incurred in the Company's operations. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact:

    Sungro Minerals, Inc.
    Erwin Vahlsing, Jr.
    Tel: (401) 648-0805
    Fax: (401) 648-0699