New York, New York, Nov 14, 2012 (eTeligis.com via COMTEX)
WallStreetInvestorNews.com "Active Stocks to Watch for 11/14/12": Southridge Enterprises Inc. (PINKSHEETS: SRGE), First Corporation (OTCQB: FSTC), Facebook Inc (NASDAQ: FB), Medical Marijuana Inc. (OTC: MJNA)
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Wednesday morning, after the market opened for trading, Southridge Enterprises Inc. (PINKSHEETS:SRGE) announced that the company is Evaluating Strategic Alternatives For Cinco Minas Property And Reports Advanced Discussions With Major NYSE Listed Metal Producers company had acquired La Canita Gold Mine in Durango, Mexico.
SRGE announced today that its board of directors has authorized the evaluation of strategic alternatives for its Cinco Minas property located in Jalisco Mexico, including the exploration of a joint venture, complete sale or other transaction.
Cinco Minas, the Company's flag-ship mineral property, has a world-class confirmed gold and silver resource of 235,000 oz. gold and 23.3 million oz. silver with 80% of the known vein system yet to be tested. Today's market value of the confirmed resource at Cinco Minas is well over $1 Billion USD, prior to the completion of further planned exploration to expand the resource.
"Southridge is implementing a plan to fundamentally position itself for further growth in an emerging gold and silver market. By forming ventures on individual projects, the Company expects to grow and maintain an interest in gold and silver mines operated by its partners allowing it to continue to build value through continued exploration. We believe that the exploration of alternatives for the Cinco Minas property will help the company accomplish its strategic goals with additional profitable growth and enhanced shareholder value," expressed Southridge President and CEO, Michael Davies.
The Company and its advisers are currently evaluating alternatives and are in advanced discussions with two major NYSE listed metal producers regarding their Jalisco mineral concessions and properties. One of the firms has already signed preliminary documents for the full acquisition of the Cinco Minas property.
Additionally, a major gold producer with a satellite office located in Guadalajara has contacted Southridge with a joint partnership interest in Cinco Minas and the companies are engaged in serious discussions at this time. Southridge expects that the process could be completed within approximately 4 weeks.
First Corporation (OTCQB: FSTC) announces Gecko Landmarks Ltd. is in advanced negotiations with African mobile telecom operators. Gecko plans to launch Gecko's Family and Friend Finder for over 100 million consumer subscribers. A "must have" service, Family and Friend Finder will provide safety, peace of mind, and convenience. Users can send SMS text messages to find the location of any phone, as well as activate alarms to inform family members if they find themselves in dangerous situations.
Facebook Inc (NASDAQ: FB) jumped 10 percent in early trading on Wednesday, even as the biggest block of shares held by insiders became eligible for sale for the first time since the social media company's disappointing debut in May. "While the lock-up is expiring, there is nothing requiring anybody to sell," said Tim Ghriskey, chief investment officer at Solaris Group in Bedford Hills, New York. "Given the low price, these long-term holders are deciding to hold the stock and that is lifting it here as the fear of the expiration subsides."
Medical Marijuana Inc. (OTC: MJNA) is the first publicly held company vested in the medical marijuana and industrial hemp markets. The company is comprised of a diversified portfolio of products, services, technology and businesses solely focused on the cannabis and hemp industries. Industry consolidation appears to be in the initial stages as the Fabulous Four marijuana companies Hemp, Inc. (HEMP), GrowLife, Inc. (PHOT), Medical Marijuana Inc (OTC: MJNA), and GreenGro Technologies, Inc. work together synergistically..
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