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.002 x .005 for me
SOI - State of Incorporation
on SOI Nevada Sparrowtech has "revoked" status:
Business Entity Information
Status: Revoked File Date: 4/14/2003
Type: Domestic Corporation Corp Number: C8871-2003
Qualifying State: NV List of Officers Due: 4/30/2008
Managed By: Expiration Date:
float is 124,594,520 as of June 22nd
Subject: Re: Sparrowtech Resources, Inc. (SPMC)
Sent By
"info@selectfidelity" <info@selectfidelity.com> On: June 22, 2009 2:11 PM
Dear Sir, the total o/s for SPMC is 154,650,520 shares. the restricted
count is 30,056,000.
anyone know how many free trading shares?tia
sorry what is soi status
at is soi status?tia
Probably explains the lack of trading
probably... from the other hand Sparrowtech already submitted quarterly report to pinksheets (June 26); form 15c2-11 and changing SOI status will be next (according to conversation with Cornelia few weeks back)
Really weird. Probably explains the lack of trading. Does anyone have any shares for sale below .006? PM me, I'll keep it a secret. Nothing wrong with trading out shares. If I wasn't in so cheap and had I not traded a few earlier I'd have sells in below that myself. I don't though. I think that there are simply no shares available and that somebody is wanting those that have quite a few to let go of some before they run it. Well let me tell you this, YOU'RE NOT GETTING MINE! Tired of the stalemate, It's time to run this puppy!~
that's right...
but you have .0017 as the ask on the right. It's quite wacky
I have .0018 x .006 ( MURF X MURF )
My Level II is showing .0018 (MURF) on bid x .0017 (MERQ on ask). The quote is showing n/a for both. Go figure.
Well, at least there's a bright side. No dumping. LOL! You always have to look at the silver lining! GL~
spmc partners trading well but no action here not even 1 share
SPMC management needs to crank this baby up imo. Stalemate for the last few days needs to be broken. By bulls of course, not bears~
either way, crappy time
i think they posted news sunday
Friday afternoon may have something to do with it. Friday AH is the worst possible time to post good news.
it is a market for this security... "unsolicited quotations" are a little problem (limited MMs number, individual needs to call broker and set pps, etc.) but from the other hand this situation adds "more low" on already low float...
not one trade after two announcements.not good imo
I wonder when they are actually going to create a market for this stock again.
,,,,,,,Cool looks like a 3 bagger --MONEYMADE
For newcomers: No Dilution. See ibox and below:
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
I really like it
Sparrowtech spent $35K for 100% of Eagle Nest property - look at their assets now:
from Convege:
- $30K (already)
- $20K + 15K + $15K (Sep/09, June/10 & June /11)
- 5M Common shares July 15/09 ($285K?)
Total ~ $365K + 3% net smelter return
from Uranium:
- $45K (in)
- 500K Common shares (in) ($50K)
- $150K in one year frame
Total ~$245K + 3% net smelter return
PLUS - 15% administration fee on exploration expenditures
Well, well... Sparrowtech just added $575K to assets, still have 6% of the property, extra 6% net smelter return royalty on the revenues from the production of gold and all other commodities & 15% admin fees... Looks like they have better deal than their partners
I also like that better =]
I like more "Converge Global and Uranium Hunter Join Sparrowtech to Develop Arizona Mining Property"
this is good:
"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."
and this is great:
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
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.
About Sparrowtech Resources, Inc. (www.sparrowtech.net)
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.
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.
Contacts:
Sparrowtech Resources, Inc.
Cornelia Volino
President
416-915-3176
info@sparrowtech.net
www.sparrowtech.net
Quarterly Report from friday after the close
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=22107
Sparrowtech Sells Mining Options to Uranium Hunter and Converge Global
Jun 28, 2009 4:25:00 PM
View Additional ProfilesTORONTO, ONTARIO--(Marketwire - June 28, 2009) - Sparrowtech Resources, Inc. (PINK SHEETS:SPMC) ("Sparrowtech") announced today that it has entered into two option agreements 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.
Uranium Hunter Corporation Option (www.uraniumhuntercorp.com)
Uranium Hunter Corporation (OTCBB:URHN) ("Uranium Hunter") 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 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 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.
Converge Global, Inc. Option (www.convergeglobalinc.com)
Converge Global, Inc. (PINK SHEETS:CVRG) ("Converge Global") also 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.
Cornelia Volino, President, stated, "We look forward to working together with both Uranium Hunter Corporation and Converge Global, Inc. 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.
About Sparrowtech Resources, Inc. (www.sparrowtech.net)
Sparrowtech Resources, Inc. (PINK SHEETS:SPMC) 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sparrowtech Resources, Inc.
Cornelia Volino
President
416-915-3176
info@sparrowtech.net
www.sparrowtech.net
Source: Sparrowtech Resources, Inc.
spmc has announcement source stockwatch.com
I get the same message. At least you can sell online if you want to. I know because I traded out a few at .0004 over a month ago. Wish I would've kept them. Still a stalemate going on here. We could sure use you here. Thinking .01+ maybe. I'm not selling for less unless I see that it's not going to get there. Really would like .03-.06. That may be wishful thinking. FTCH pulled a big one. URHN has steam, why not SPMC?
Hmmm... ETRUD still restricted... may call them and smack some sense into them
Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331).
my open bid above ask (@ .0018) hadn't been neither showing nor executing... very odd...
why is there no action here?the partner urhn seems to be getting sll action.maybe that is one to buy.
Nobody is selling. Good sign. Nobody is buying either. Bad sign. Equal day huh?
funny day, funny 974 share trades above the ask... food for thoughts:
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=SPMC&SortBy=volume&Month=5-1-2009&IMAGE1.x=17&IMAGE1.y=6
Really slow day. Confirmed what I thought though. Shares look to be tight given the mm movement. Very little action though. Ah well, tomorrow's another day. GL~
Your right...Thats why I never play them but sometimes the chart works here as well...should have jumped in
I guess I'd say it's been pretty good. Most pinks don't move this easily from my experience but maybe I haven't been in the right ones~
you have full access to T/A - is this the reason of your question?
must be alot of free trading paper not much movement on allmost 3mil volume
Charts mean nothing in these types of scenarios imo. However, we are bound to see some type of messing around by the mms due to the scarcity of shares. It always happens. Not discounting the chart by any means, just saying that in the pinks they don't always predict things very good. Sometimes they're dead on though~
what kind of gap are you talking about?
if they take it down i'll try to pick up some more.
If it were not for URHN, I would not be here. We all dislike promoted stocks but you have to get awareness out there some way or another. I just don't like to have a pile of free shares given out, that's all~
Looking at the chart.... she is riding the top of the bollie. I would like to see the bollies tighten up again and for them to bring this down on low volume. The Res @ 16 stopped this train. The sar is droppped so I will look for a pull back to fill the gap.
link back to chart from last week(below); break of .002 will be huge... sar dropped under candle - boom
you meant ir group? lol
I prefer to have deals with not promoted stocks, don't you?
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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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