Stans Energy Announces Non-Brokered Private Placement
TSX VENTURE: HRE
Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTC: HREEF), ("Stans" or the "Company") announces a proposed non-brokered private placement offering (the "Offering") of up to C$120,000 of common shares in the capital of Stans Energy Corp. (the "Common Shares") to be sold on a best efforts basis.
The Proposed Offering of Common Shares
The Offering is for up to $120,000 (the “Offering Amount”) consisting of up to 2,400,000 units at a price of $0.05 per Unit. Each Unit will consist 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.
Stans intends to use the gross proceeds for general corporate purposes.
Furthermore the Company has moved offices from its current location to 1 Yonge St, Suite 1011, Toronto ON, M5E 1W7. This move is a part of the Company’s ongoing efforts to minimize office expenses while it continues to pursue legal challenges with respect to the Company’s past ownership of the Kutessay II rare earth mine in the Kyrgyz Republic.
The Offering is open to all accredited investors and financial institutions, subject to certain limitations. Any existing shareholder interested in participating in the Offering should contact the Company in accordance with the contact information set forth below. The Company may pay registrants a cash commission of 5% of the gross proceeds of this Offering in respect of investors solicited or introduced by such registrants. Registrants will also be entitled to receive warrants to purchase that number of common shares of the Company as equals 5% of the total offering subscribed by investors solicited or introduced by such registrants, at an exercise price of $0.06 per share, for a term of 60 months.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare and specialty metals properties focusing on areas of Central Asia and Russia. Stans acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic in 2009 and the right to mine Beryllium at Kalesay. Steps subsequently taken by the Government of the Kyrgyz Republic to wrongfully to deprive the Company of those mining rights have required Stans to take actions at various international arbitration tribunals to protect the Company’s rights and recover damages caused by the Republic’s wrongful actions.