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SOUTHERN REALTY ANNOUNCES TWO NEW SOLAR WAIVER AGREEMENTS
SOUTHERN REALTY ANNOUNCES TWO NEW SOLAR WAIVER AGREEMENTS.
About this update from Southern Realty Co.
[{"type":"text","content":"The following is sent at Roger McNitt’s request. Please direct questions/comments to Mr. McNitt at (619) 813-2833.****September 15, 2023FOR IMMEDIATE RELEASE Southern Realty Co. (“Southern” or “SRLY”) announced today two new one-time cash payment limited waiver surface rights agreements for new solar projectsSRLY owns nearly 40,000 gross (18,000 net) acres of mineral rights, most of which are in California’s Central Valley. SRLY expects that revenues related to its mineral rights in the near future will come from one-time cash consideration surface rights waiver agreements for solar projects. In the past it has entered into surface rights agreements for solar projects receiving one-time payments only. It recently entered into another such agreement and has received a one-time cash payment in the low hundred-thousand-dollar range. Additionally, it has agreed to enter into a second such agreement and expects to receive a one-time payment in the high hundred-thousand-dollar range by September 30, 2023.Forward-Looking InformationAll statements, other than statements of historical fact, are Forward-Looking Statements. Forward-Looking Information typically contains statements with words such as “anticipate”, “believe”, “plan”, “continuous”, “estimate”, “expect”, “may”, “will”, “project”, “potential”, “hope”, “should”, or similar words suggesting future outcomes. Many of the Company’s statements referred to herein are its Forward-Looking Statements. Actual results may differ materially from those projected in any Forward-Looking Statement. Investors should not rely on Forward-Looking Statements because they are subject to a wide variety of contingencies and based on a number of assumptions, which may not prove to be true. There can be no assurance that any prospective lessees will drill on the Company's mineral interests or that any minerals or hydrocarbons will be found; or if found, that they will be in paying quantities, that there will be a market therefor or that lessees will pool with the Company's interest. Also, there can be no assurance that any lessee’s drilling will not be delayed or prevented by acts of governments, agencies, courts, or environmentalists. Additionally any lessee’s success in its wells is highly dependent no...