November 9, 2016 - 5:50 PM EST
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Stans Energy Closes First Tranche of Non-Brokered Private Placements and Engages Contractors





Stans Energy Closes First Tranche of Non-Brokered Private Placements and Engages Contractors

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Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTC Pink: HREEF), ("Stans" or the "Company") is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Placement”).

 

As announced on October 4, 2016, the Placement comprised an offering for up to $600,000 consisting of up to 12,000,000 units at a price of $0.05 per Unit. Each Unit consisted of one common share in the capital of the Company and one share purchase warrant (each whole warrant a “Warrant”). Each Warrant will be exercisable to acquire one additional common share of the Company for a period of 60 months at a price of $0.06 per common share.

 

6,050,000 common shares for gross proceeds of $302,500.00 were issued in this placement.  Finders Fees of $2,000 were paid to Cannacord Gennuity.  The Finders Fee represented 5% of the gross proceeds collected by Cannacord Gennuity with an allotment for 40,000 finders warrants which represented 5% of the shares issued to Cannacord Genuity clients who participated in Placement.  The  Finders’ Warrant are exercisable to acquire one common share of the Company at a price of $0.06 commencing on November 10, 2016 for a period of 60 months.

 

Combined Insider participation in the Placement totalled $45,000.  Stans intends to use the gross proceeds from the Offering to fund the legal and technical due diligence for the Pervomayskiy Lithium Mineralization Stockpile (the “Stockpile”) and Zaibaikalsky Mill (the “Mill”) and associated infrastructure.

 

AMC Consultants have been retained by the Company to conduct geological confirmation work on the Stockpile with a focus on producing an NI 43-101 compliant resource.  Furthermore an engineering evaluation on the Mill will be conducted with the eventual intent to produce an NI 43-101 compliant Preliminary Economic Assessment for the production of lithium carbonate from the Stockpile.

 

Norton Rose Fulbright has also been retained by Stans to assist with the structure and oversight of a purchase option agreement for the Stockpile and Mill.  This legal due diligence will be conducted from their Moscow offices in conjunction with Stans’ Moscow based team.

 

The Company also reports that COO, Boris Aryev, has been issued 200,000 shares to partially settle debts owed from salary arrears dating from April 2016 through July 2016.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Closing of the Offering will be subject to certain closing conditions, including the approval of the Toronto Stock Exchange.

 

About Stans Energy                                                                                                                                     

 

Stans Energy Corp. is a resource development company focused on advancing rare and specialty metals properties  and processing technologies  Stans is now transitioning  into a supplier of materials and technologies that will assist in satisfying the future energy supply, storage and transmission needs of the world. Previously,  the Company acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic  Due to the expropriation  actions  taken by the Government of the Kyrgyz Republic, the Company is undertaking  international arbitration litigation to protect the Company’s rights and recover damages estimated at over US$210,000,000, caused by the Republic.

 

We seek safe harbour.

 

Contact Details

 

Rodney Irwin

David Vinokurov

Stans Energy Corp

Stans Energy Corp

Interim President & CEO

VP Corporate Development

[email protected]

[email protected]

647-426-1865

647-426-1865

FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this press release, the words “will”, “shall”,  "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Stans11092016_0.pdf

Source: Stans Energy Corp. (TSX Venture:HRE, OTCQB:HREEF)

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Source: FSCwire (November 9, 2016 - 5:50 PM EST)

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