SOURCE: Sunergy Inc.

March 04, 2010 07:15 ET

Sunergy's Board Of Directors Appoints Karl A. Baum President and Director to Lead the Company's Rapid Development Strategy in West Africa and Globally

SCOTTSDALE, AZ--(Marketwire - March 4, 2010) -  Sunergy, Inc. (the "Company") (OTCBB: SNEY) is pleased to announce the appointment of Mr. Karl A. Baum as President and Director of the Company. Mr. Baum has served since August 12, 2009 as Manager of West African Business Development for the Company and has agreed to take the helm to direct the Company's core business development in west Africa and globally.

Mr. Baum replaces Joseph Guerrero, who has resigned as President and Director in order to focus on his real estate career in Scottsdale, Arizona.

Mr. Baum brings with him a background in Business Management from Arizona State University and International Management Studies from Thunderbird School of Global Management. He has over 5 years of experience within West Africa serving as the General Manager for (2) small-scale exploration and gold mining operations within The Republic of Ghana with 7,000 ton/day capacity. As International Procurements and Logistics Manager he has overseen the shipment of over USD 15 Million worth of capital equipment from the United States and imported into Ghana. He has led the permitting activities for the operating mines in Ghana and enjoys a good working relationship with the local and national authorities. Prior to his positions within Ghana, Mr. Baum served as Permitting Coordinator on several gold mining projects in Colorado working with the EPA and Division of Minerals and Geology to ensure regulatory compliance.

Mr. Baum has also provided assistance in developing several large scale contracts for mining services within The Republic of Liberia and Sierra Leone; giving him a working knowledge of the customs and concerns of performing within the West African business climate. This hands on experience within the region has assisted him in providing turn-key supply chain management solutions which are vital to successful operations in this part of the world.

Karl commented, "I am excited to take this step to take the helm as President and to join the Board of Directors at this time. The opportunities that have presented themselves to the Company recently are truly Company building. I appreciate the confidence that the Board of Directors has placed in me to lead this development. We share the same vision and goals of developing a large diversified Company throughout West Africa. This economic downturn has uncovered several opportunities that are available now for those ready to do business in Ghana and West Africa."

Company Chairman, P.K. Rana Medhi, said, "We now have a President with local knowledge and substantial business connections in Ghana, where our core business and business opportunity exists. We have Bob Levich, P.Geol.(see PR dated December 21, 2010) who recently joined our Board of Directors after working with us in Ghana for several months. Mr. Levich also lives in Ghana most of the year. We also have the pleasure to have regional chief, Ne Ne Abiasi Agbonoo #3 serve on our Advisory Board. This team on the ground in Ghana gives our Company the best possible chance for success in executing our strategic business plan that will unfold in its fullness over the next few months."

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 Offin River flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Offin 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

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.

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