TORONTO, ON / ACCESSWIRE / August 26, 2019 / Stans Energy Corp. (TSXV:HRE) (OTC:HREEF) (“Stans” or the “Company”) feels obligated to clarify its position and address our shareholders concerns regarding the Tribunal Award.
While Stans is pleased to be found meritorious by the Tribunal, it is disappointed with the amount awarded as it had claimed in January 2016 for US $219 Million in damages and interest.
The Respondent, Kyrgyz Republic, has a mandatory few months to comply with the ruling or proceed with set-aside proceedings through UK courts, jurisdiction of our Arbitration.
Stans has right to proceed with its own proceedings to protect its interest and we are addressing this issue. Our legal team will provide us with a detailed report with a thorough analysis of the ruling and advice. As soon as we make a decision based on these findings the public will be informed of our next steps.
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.
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 to become 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 caused by the Republic.
We seek safe harbour.
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.
SOURCE: Stans Energy Corp.
View source version on accesswire.com: