Stans Energy Announces New Director and CFO
June 4, 2014 (Source: Businesswire) — Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”)is pleased to announce the appointment of new members to the Company’s executive team. Mr. Albert Grenke has been appointed to the Board of Directors and Ms. Elena Masters CGA resuming her role as CFO for the Company.
Mr. Grenke is a founder of Stans Energy Corp., and was the Chief Executive Officer of Viol Energy Ltd., the Kyrgyz corporation that provided the personnel and asset base for Stans Energy Corp.’s Kyrgyz operations. Mr. Grenke remains one of the Company’s larger shareholders to this day. Mr. Grenke is a prominent entrepreneur who has served as Chief Executive Officer and Director of a number of private and public corporations with both domestic and international exposure. Prior to 1987 he had a career in the Ontario and Canadian Governments in a number of senior positions: administration, audit and investigation, treasury and strategic planning.
Ms. Masters has held several senior leadership positions during her career, including CFO with Stans Energy Corp. from December 2009 through February 2012. Her previous roles include serving as the CFO for a number of TSX Venture listed companies. Since 2006 Ms. Masters has been President of Administrative Services Corp, a private consulting firm, as well as serving as CFO for JM Capital II Corp.
“I am pleased to welcome an important and always interested friend of Stans to the Board of Directors. Mr. Grenke’s experience and background knowledge of Russia and the CIS countries will serve us well,” states Rodney Irwin, Chairman of the Board and Interim President and CEO. “Also, I take great pleasure in welcoming Lena Masters back to our management team as our CFO. She has a proven track record, and is a knowledgeable and valued asset to our organization.”
As part of the executive compensation for the new additions to the management team, the Board of Directors has approved 800,000 incentive stock options. Each stock option entitles the holder to purchase one common share of the Company for $0.13 per share until June 3, 2019. All options granted and any common shares issued upon the exercise of the options will be subject to a statutory four-month hold period expiring October 3, 2014. The option grant was approved by the Board of Directors on June 3, 2014 and is subject to regulatory approval.
About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
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.