DALLAS, Nov. 23, 2012 /PRNewswire/ -- Southridge Enterprises Inc. (Pink Sheets: SRGE) ("Southridge" or the "Company") is pleased to announce today that Southridge Minerals, Inc., its wholly owned subsidiary, has hired new legal representation to meet the Company's expanding legal needs going forward. The new firm is now transitioning to file all of the Company's future disclosures with the OTC Markets and will be the liaison for the Company while facilitating all corporate and legal matters.
Due to the change in legal representation, the Company will be filing its 2012 annual report in the coming week. Southridge will report its fourth quarter and annual results ending August 31, 2012, reflecting record mineral production, revenues and profits as per the Company's new release of September 04, 2012.
In other recent developments, the Company has now distributed funds and completed its dividend payout one day early on November 21, 2012, in lieu of the payout date falling on Thanksgiving Day, for shareholders of record on November 15, 2012. The Company expects to continue its dividend payouts on a quarterly basis.
Additionally, the Company will be releasing some positive news, developments and events concerning one of its mineral properties located in a world-class mining region of Mexico. Southridge anticipates releasing this news on or before November 27th, 2012.Southridge Minerals currently holds a portfolio of mineral properties located in several world-class mining regions of Mexico. The properties include the past producing and flagship property Cinco Minas, along with the Gran Cabrera, Los Compadres, La Esperanza, La Canita and El Horconcito. With metal prices forecasted to remain buoyant, properties that offer significant potential for Gold and Silver occurrence, a diverse management team, and a strong cash position, Southridge Minerals is well positioned to develop its opportunities and build shareholder value.