Stans Energy Closes Non-Brokered Private Placements
TSX VENTURE: HRE
TORONTO, ON / ACCESSWIRE / July 4, 2019 / Stans Energy Corp. (TSX-V: HRE, OTC: HREEF), ("Stans" or the "Company") is pleased to announce that it has closed its non-brokered private placement (the “Placement”).
As announced on June 17, 2019, the Placement comprised an offering for up to $100,000 consisting of up to 2,000,000 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.
2,800,000 common shares for gross proceeds of $140,000 were issued in this placement. No Finders fees were paid in connection with this private placement.
Combined Insider participation in the Placement totalled $65,000. Stans intends to use the gross proceeds from the Offering to ongoing corporate expenditures.
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.
Stans Energy Corp
Interim President & CEO
Stan Energy Corp
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.