Sunrise Consulting Group, Inc. Signs Letter of Intent With Cao Tian Iron Ore Mines, Hunan Province, China
Posted on: Thursday, 3 January 2008, 09:00 CST
HUNAN PROVINCE, China, Jan. 3 /PRNewswire-FirstCall/ -- Sunrise Consulting Group, Inc. (Pink Sheets: SNRS), Signs Letter of Intent with Cao Tian Iron Ore Mines, ZhuZhou City, Hunan Province, PRC "CHINA" for the concession rights to mine this particular area of that region for at least 30 years. The letter sets forth the basic terms and conditions under which both parties have agreed to.
Sunrise Consulting Group, Inc. will issue 1 million shares of preferred stock to own 100% of the mining rights when signing the final agreement. These shares will have guaranteed buyback options within 24 months at $1.00 USD per share. Total buyback will be $1,000,000 USD.
This particular parcel of land stretches to an astounding 3 square miles and the mountain has an estimated 3 million tons of Iron Ore that can be mined over the next 30 years. The company plans to rapidly move forward in accordance with terms and conditions set forth in the proposed agreement (LOI).
Caution Regarding Forward-Looking Statements: This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results which are not yet available. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, the integration of acquisitions, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
For Further Information: CEO: Raymond Chin (949)-200-7478 Address information: 2901 W. Coast Highway, Suite 200 Newport Beach, CA 92663 USA
Sunrise Consulting Group, Inc.
CONTACT: Raymond Chin, CEO of Sunrise Consulting Group, Inc.,+1-949-200-7478
Source: PRNewswire-FirstCall
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