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I filed my complaint to SEC even though I have ZERO faith in SEC. Personally, I think SEC only there to serve the big money machine and could careless about small investors like us. Anyhow, my question to Sparrowtech management is what did share holders do to them in order to deserve this kind of treatment? I bought shares and believed in the company, and yet, we were treated like sheeesh.
make the SEC aware of your complaints.spmc shareholders were not treated fairly in the deal
SPMC management is a bunch of thieves. The shares which I had were purchased with hard earned cash and I could have used it as toilet papers as I pleased. I can understand shares can be restrictive for 1 years if they were issued as dividend but mine were not. These crooks did the deal to benefit no one else but themselves. What a bunch of criminals who are heartless and not man enough to play fair.
This is absolutely ridiculous.
Think about this.
Who owns Eagle Nest mine?
SPMC does!
Between SPMC and CVRG, which company has less outstanding shares?
SPMC
Now, CVRG is buying out SPMC(Eagle Nest mine)
How come SPMC shareholder will be restricted for 1 year?
Doesn't make any sense.
I remember you from the ZIPN/ZIPZ board. Yes, that money freeze for a year is worthless. Plus, CVRG may be up but I seriously doubt it. I said positive things about SPMC for a while but this is ridiculous. Flat out ridiculous. Wish I'd seen the news last Thursday. Was busy in the morning, missed it.
I, too, rid of my shares and took a loss. Just glad to rid of all my shares before Monday. It was better to get whatever I could get before it be freezes for 1 year. Felt sorry for thos who bought my shares and hope they realize that their shares will be frozen for 1 year.The management is a bunch of crooks who has does not give a crap about their shares holders.
Well, sold my shares today. Very disappointed in SPMC management. I profited from owning shares but it's the last time I'll ever hold any penny stock for a longer period of time. This deal with CVRG is robbery imo.
SPMC 20,538,667 extremely high volume! There will be lots more loading up before friday. I believe the mm's are just accumulating and depending on traders to sell into the news. Those who hold will be rewarded imo.
Checked with Investor Relations and the restricted shares are
due to government regulation!
Just sent my complaint to the crooks and SEC:
You guys are no different from the guys who rob the banks. I paid for my shares with my hard earned cash and should not have to wait a year to rid of the stocks. THESE SHARES WERE NOT GIVEN TO ME. Therefore, I should not be restricted for 1 year. I repeat, my shares are NOT dividend, and therefore, I s/b allowed to do whatever I please. I am reporting you crooks to SEC.
These guys are no different from the guys who rob the banks.
everyone who is pissed call the office or email them and let them know of your concerns.spmc shareholder got screwd.imo
This kind of practice s/b illegal. I paid for the shares and s/b able to do whatever I want with it. It is NOT dividend where share holders can have 1 yr. restricted. REPEAT: I PAID FOR MY SHARES AND THEY WERE NOT FREE. What a bunch of thieves. I will trash all my junks and before Friday so I will not be held hostage for 1 freaking year.
I'm pissed off.
read the p.r again.spmc shares that are being exchanged for cvrg will be resticted.spmc shareholders are getting screwed
SPMC got in the volume is all time high when traders read the news this one should move big. 30:1 share exchange is a no brainer. Should go big once people realize what a great deal this is. You have to call in on this one and the volume is still all time high.
Converge Global and Sparrowtech Resources to Close Merger
Oct 21, 2009 9:00:00 AM
Email Story Discuss on ZenoBank
View Additional ProfilesTORONTO, CANADA -- (MARKET WIRE) -- 10/21/09 -- Converge Global, Inc. ("Converge Global") (PINK SHEETS: CVRG) and Sparrowtech Resources, Inc. ("Sparrowtech") (PINK SHEETS: SPMC) stated that their proposed merger previously announced on October 15, 2009 is scheduled to close at the close of business on Friday, October 23, 2009.
The effect of this merger will cause Sparrowtech shareholders to receive one share of Converge Global for every thirty (30) shares of Sparrowtech. The shares of common stock of Converge Global to be issued to the Sparrowtech shareholders will have a restrictive legend and these new shares will be subject to a one-year holding period. The new shares of common stock of Converge Global will be issued and sent promptly to the shareholders of Sparrowtech as of the close of business on October 23, 2009, and all of the outstanding stock certificates of Sparrowtech will be cancelled.
Converge Global presently has 217,145,305 issued and outstanding shares of common stock. Upon the closing of the merger, Converge Global will issue approximately 4,918,151 shares of its restricted common stock to the shareholders of Sparrowtech. As a result, Converge Global will then have approximately 222,063,456 issued and outstanding shares of common stock.
Converge Global intends to move forward on the development of its Eagle Nest mining property in La Paz County, Arizona and will launch its work program in the near future.
spmc is not restricted for a year the other share is
People! Come over to the CVRG message board!
We need some action there!
That was in reply to my questions from a couple weeks ago, like I said I'm already gone and thought I would share since I just received it. Good luck to those still holding.
This IR firm is a crappy one. I've contacted them in the past and I don't think they are smart.
From PR:
"Merger Agreement which is expected to become effective on or about November 6, 2009"
OTCconnection says:
"Converge now has 100% ownership of Eagle Nest."
My question honest thought:
oh, wow, the merger already become effective huh? LMFAO. IDIOT!
fwiw:
Jason,
Thank you for your work and inquiry. As you have seen from yesterday's press release Sparrowtech will be merging with Converge. This will remedy the issues you mentioned in your email. I assume that you are an SPMC shareholder and now as a result of the merger will become a CVRG shareholder. I can tell you that there will be more press releases in the next week or two. Converge anticipates the work program on Eagle Nest to start fairly soon. Converge now has 100% ownership of Eagle Nest.
Best regards,
Tom
Tom Scheffler
OTC Connections Inc.
800-723-5030
contact@otcconnections.com
www.otcconnections.com
we never know. CVRG ran to 45cents this spring. Plus, SPMC could remain as a shell stock after corporate executives leave this entity.
Then, we get free shares of CVRG & riding the shell play simultaneously.
Interesting, thanks.
I don't know really. Fortunately for me, I'm sitting with basically freebies off of my original .0003 buy in May or April so it's not a big issue to me. I really thought that it would shape up to be a far better play than it has given it's OS. Haven't really decided what to do. I don't want to sell down here either. Nothing says that CVRG's pps won't substantially improve over time but I agree, not too bright a move by the company. As a shareholder, I'm a bit disappointed, to say the least. I'm tempted to let my shares ride and just wait and see what happens but I'm not sure what I'm gonna do. I may move on, I may stay. We'll see.
But IMO, Eagle Nest Mines are great claims. And very easy access to the mines~ The lands are administrated by BLM not by US Forest Services. This claims are not in national forest. Making me think it'll be easier to obtain permit for larger scale mining. Just a thought.
me too. I was away, too.
I am sad that this co. is ran by not smart executives.
I mean they could have announced blind merger agreement and not disclose the detail such as 1 to 30 shares, etc. Currently CVRG is trading around .03 so this makes SPMC only worth .001 at most.
We don't know whether our shares will be restricted or not but most likely it will be. Hence, there is no benefits to SPMC shareholders.
SPMC owns Eagle Nest Mines at this point so they should choose the language more wisely IMO.
My only hope is that SPMC will become a shell and we'll still own our original shares on SPMC after these morons leave the corporation.
But it sounds like they are going to put SPMC in the trash can after they let SPMC merge with CVRG.
Any thought?
I'm still holding and I don't wanna sell at this cheap PPS.
But I might have to write this POS off and move on to another runners.
So stupid is my honest opinion.
Good for you, I was gone all day lol. Didn't realize we had news. Oh well~
take the bid when you can imo
this will dilute cvrg making the conv. value even lower for spmc imo
yep
not sure why anyone would pay more than .001
;->
I sold my position today. Valuation is .001 for SPMC if CVRG remains at .03. Good luck all.
Im a CVRG shareholder guys, you guys moved up but we are still the same? I don't know what to make of this news? GL2A
Converge Global and Sparrowtech Resources Sign Merger Agreement
Press Release
Source: Converge Global, Inc. and Sparrowtech Resources, Inc.
On 9:00 am EDT, Thursday October 15, 2009
Buzz up! 0 Print
TORONTO, CANADA--(Marketwire - 10/15/09) - Converge Global, Inc. ("Converge Global") (PINK SHEETS:CVRG - News) and Sparrowtech Resources, Inc. ("Sparrowtech") (PINK SHEETS:SPMC - News) announced today that they have entered into a Merger Agreement which is expected to become effective on or about November 6, 2009.
The effect of this merger will cause Sparrowtech shareholders to receive one share of CVRG for every thirty shares of SPMC. The surviving entity will be Converge Global, Inc., whose name will remain the same.
Furthermore, upon completion of the merger, Converge Global will become the owner of 100% of the Eagle Nest mining property in La Paz County, Arizona. The former Option Agreement between Sparrowtech Resources and Uranium Hunter Corporation has been terminated.
Converge Global President Bryan Gonzales stated, "This merger will increase our shareholder base and allow us to escalate the development and work program on the Eagle Nest mining property. Management intends to focus on its 100% post merger ownership of the Eagle Nest mining property and launch the proposed work program in the near future."
Sparrowtech President Cornelia Volino stated, "With the collective resources of Sparrowtech and Converge Global working together, we are extremely excited and confident that both operations and corporate development will increase the combined shareholder value and opportunity for long term growth."
About Converge Global, Inc. www.convergeglobalinc.com
Converge Global, Inc. is a junior mining company engaged in the acquisition, exploration and development of properties in North and South America containing principally gold as well as other precious metals.
About Sparrowtech Resources, Inc. www.sparrowtech.net
Sparrowtech Resources, Inc. is an exploration and resource development company with a primary strategy to follow socially responsible development and production by supporting working conditions and modernization techniques that would leave little to no carbon footprint.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Converge Global, Inc. and Sparrowtech Resources, Inc. with members of each management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. Either company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contact:
Contacts:1-800-723-5030contact@otcconnections.comwww.otcconnections.com
This company is a bit strange. Almost like it would prefer to keep the pps down for now. Still holding though.
CVRG and other gold plays moving up, still we sit here and wait. I tried the company again and still have no response.
Or someone just got impatient and dumped, and congrats to who scooped them up. It happens from time to time here Carlito, solely because daytraders try to play a short term investment.
0008 , MURF scoop them up all yestd.(3,7mill sh.) !!he know something !!!???
Does anyone want to be an assistant mod? I took over the mod position last May because the ibox was horribly out of date and there were not stickies, etc. However it's just me. So I thought I would throw it out to more experienced mods. I normally just trade and do not moderate.
NITE has been flashing off an on, I believe it is individual retail traders when NITE shows up (since it is unsolicited quotes and all). Heck when I tried to add to my position I briefly moved NITE.
definitely. easy 10 from here IMO
I know ShareS. = super low !!!!
10 bagger in i heartbeat
K )
thx for the link !!!
Nope. murf ain't got much here. Only NITE has been trading actively. SPMC will fly with or without volume IMO
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=spmc&SortBy=volume&Month=8-1-2009&IMAGE1.x=24&IMAGE1.y=8
the total o/s for SPMC is 154,544,520 shares. The common are
124,494,520, and the restricted is 30,050,000 shares.
A/S 160M as per Nev SOS
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=0fsqWYryzfDBIUj4hyJxKg%253d%253d
Hello , shhhhhhhhhhhhhhhhhhhhhh ,loading quiet the last cheap1s
you know mm 'murf ??? 002,,you think he got i lot ??
Hello , shhhhhhhhhhhhhhhhhhhhhh ,loading quiet the last cheap1s
you know mm 'murf ??? 002,, do you think he got i lot ??
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Sparrowtech Resources, Inc.
100 King Street West, Suite 5700
Toronto, ON M5X 1C7
Tel: 416-915-3176
Fax: 416-915-3177
Email: info@sparrowtech.net
http://www.sparrowtech.net
Sparrowtech Resources, Inc. is an exploration and resource development company focused on acquiring environmentally conscious mining operations, primarily in North America. The Company's leadership team plans to identify unique opportunities to extract gold and other precious metals from previously producing mines and/or establish new discoveries in recognized gold districts. The Company's strategy follows socially responsible production by supporting improved working conditions and modernization techniques that leave little to no carbon footprint
Sparrowtech Resources, Inc. plans to establish itself as a leader of environmentally conscious mining operations. We intend to identify exploration opportunities, acquire producing and previously-producing mines in recognized gold districts, while increasing productivity through improved working conditions and modernization with environmental consideration.
» Incorporated 2003 in the State of Nevada, USA
» 2004 Reverse Merger with Sparrowtech Multimedia Corporation (incorporated Florida 2000).
» Name changed on March 2007 to Sparrowtech Resources, Inc. to target the natural resources and ».mining industry.
» Pursued several acquisitions in Peru, Ecuador and North America.
» Due diligence determined alternate opportunities and/or projects would best suit Sparrowtech's ».objectives in the short and longer term.
» Additional acquisitions currently being reviewed.
Sparrowtech Resources, Inc. has entered into an agreement to acquire 100% interest in the Eagle Nest Mining Property ("Eagle Nest") from D.A.R. Mining.
The Eagle Nest Mining Property
The Eagle Nest claims include a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale. Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces per ton gold, 1.8% copper and 2.1 ounces per ton silver.
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
This acquisition is scheduled to close in May 2009 providing management is satisfied that this agreement is in the best interest of its shareholders and sufficient financing has been secured.
Sparrowtech Resources, Inc. (PINK SHEETS:SPMC) is pleased to announce that it has completed the acquisition of a 100% interest in the Eagle Nest Mining Property Claims AMC294529 and AMC294535 and filed the Mining Quit Claim Deed in La Paz County, Arizona from D.A.R. Mining and Mr. Marvin Roe.
The Company paid the Sellers US$35,000, plus agreed to pay a 3% net smelter return royalty on the revenues from the production of gold and all other commodities produced from Eagle Nest's hard rock, lode type mineralization. The Company also agreed to initiate a work program within the first year.
The Company further announces the results of two independent assay and concentration tests completed in late 2008 at the Eagle Nest Mining Property ("Eagle Nest").
Cornelia Volino, President stated, "According to these previous independent results, Eagle Nest is considered to be mineralized with vein structure running throughout. The initial metallurgical work also suggests possible recovery by environmentally friendly closed loop leaching. We will provide details of our proposed work program as well as further sample and testing results in the near future."
Assay and Concentration Testing
November 2008 assay reports of samples taken on Eagle Nest by New Verde River Mining Co. Inc. indicate gold values of 0.666 ounces per ton to 1.100 ounces per ton and silver values of trace amounts to 0.09 ounces per ton.
Separately, Met-Solve Laboratories, Inc. ran two 7 kilo samples for concentration tests in December 2008. These tests indicated that the calculated head ore of sample one assayed at 5.3 grams per ton. After concentrating, sample one assayed at 82.1 grams of gold per ton in the concentrate. The tails had 1.7 grams of gold per ton remaining.
The tests further indicated that the calculated head ore of sample two assayed at 9.3 grams per ton. After concentrating, sample two assayed at 142.7 grams of gold per ton in the concentrate. The tails had 1.5 grams of gold per ton remaining.
About Sparrowtech Resources, Inc.
Sparrowtech Resources, Inc. is an exploration and resource development company focused on acquiring environmentally conscious mining operations, primarily in North and South America. The Company's leadership team plans to identify unique opportunities to extract gold and other precious metals from previously producing or producing mines and/or establish new discoveries in recognized gold districts. The Company's strategy follows socially responsible production by supporting improved working conditions and modernization techniques that leave little to no carbon footprint. For more information, visit www.sparrowtech.net.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sparrowtech Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE: Sparrowtech Resources, Inc.
Sparrowtech Resources, Inc. Cornelia Volino President 416-915-3176 info@sparrowtech.net
Converge Global and Uranium Hunter Join Sparrowtech to Develop Arizona Mining Property
2009-06-28 18:31 ET - News Release
Also News Release (U-CVRG) CONVERGE GLOBAL INC
Also News Release (U-URHN) URANIUM HUNTER CORP
TORONTO, ONTARIO -- (MARKET WIRE) -- 06/28/09
Sparrowtech Resources, Inc. ("Sparrowtech") (PINK SHEETS: SPMC) announced today that it has entered into option agreements with Converge Global, Inc. ("Converge Global") (PINK SHEETS: CVRG) and Uranium Hunter Corporation ("Uranium Hunter") (OTCBB: URHN) on its recently acquired Eagle Nest Mining Property ("the Property") in La Paz County, Arizona.
Eagle Nest Mining Property
Sparrowtech acquired a 100% interest in the Eagle Nest Mining Property (Claims AMC294529 and AMC294535) from D.A.R. Mining and Mr. Marvin Roe. These property claims include a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz County. Easy access to the mine site and a good water supply will facilitate ease of construction for expansion of the mine site.
Converge Global, Inc. Option (www.convergeglobalinc.com)
Converge Global acquired an option from Sparrowtech to purchase a 45% Earned In Interest in the Property. Converge Global paid to Sparrowtech US$30,000. Converge Global is required to pay five million shares of CVRG Common stock by July 15, 2009, US$20,000 by September 30, 2009 and an additional US$15,000 to Sparrowtech on June 27, 2010, June 27, 2011 and June 27, 2012, respectively.
Converge Global also agreed to pay a 3% net smelter return royalty on the revenues from the production of gold and all other commodities produced from the Eagle Nest Mining Property's hard rock, lode type mineralization.
Converge Global, Inc. is an American-based junior mining company engaged in the acquisition, exploration and development of properties containing principally gold as well as other precious metals.
Uranium Hunter Corporation Option (www.uraniumhuntercorp.com)
Uranium Hunter also acquired an option from Sparrowtech to purchase a 49% Earned In Interest in the Property. Uranium Hunter paid to Sparrowtech US$45,000 and five hundred thousand shares of URHN Common stock. Uranium Hunter is required to pay an additional US$150,000 toward exploration of the Property over a one year period.
Uranium Hunter further agreed to pay a 3% net smelter return royalty on the revenues from the production of gold and all other commodities produced from the Eagle Nest Mining Property's hard rock, lode type mineralization and an additional US$15,000 to Sparrowtech on April 21, 2010, April 21, 2011 and April 21, 2012, respectively.
Uranium Hunter Corporation is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, Management has decided to diversify the Company's interest to include the precious metals industry.
Cornelia Volino, President, stated, "We look forward to working together with both Converge Global, Inc. and Uranium Hunter Corporation in the exploration and development of the Eagle Nest Mining Property. We believe these alliances will be beneficial to the Property and to the growth of Sparrowtech."
Sparrowtech further announced that it will be the Operator Manager of the exploration programs on the Eagle Nest Mining Property and will be entitled to a 15% administration fee on exploration expenditures.
RECENT SHARE STRUCTURE
SPMC TA update
Subject: Re: SPMC--Sparrowtech Resources, Inc.
Sent By
info On: September 4, 2009 10:01 AM
the total o/s for SPMC is 154,544,520 shares. The common are
124,494,520, and the restricted is 30,050,000 shares.
A/S 160M as per Nev SOS
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=0fsqWYryzfDBIUj4hyJxKg%253d%253d
----------------------------------
From Most Recent Quarterly Filing, pg. 1 on pinksheets.com:
Stockholders' Equity
Preferred Stock - Class A, 5,000,000 shares authorized
at $,001 par value, 7,000,000 shares issued(2007 - 3,000,000) Common stock
150,000,000 shares authorized at $.001 par value,
127,544,520 shares issued and outstanding in March 31, 2009
127,544,520 shares issued and outstanding in December 31, 2008
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