Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTCQB: HREEF), ("Stans" or the "Company") announces a proposed non-brokered private placement offering (the "Offering") of up to C$1,000,000 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 $1,000,000 (the “Offering Amount”) consisting of up to 20,000,000 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 24 months at a price of $0.10 per common share.
Stans intends to use the gross proceeds from the Offering to fund its ongoing corporate overhead and conducting of due diligence on the Pervomayskiy Stockpile and Zaibaikalsky Mill. Proceeds will not be used to pay management fees, nor is it proposed to make payments to any related parties.
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 $0.10 per share, for a term of 24 months.
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 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.
We seek safe harbour.
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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/Stans09132016.pdf
Source: Stans Energy Corp. (TSX Venture:HRE, OTCQB:HREEF)
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