Stans Energy Legal Update
September 25, 2014 (Source: BusinessWire) — Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”), reports that the Economic Court of the Commonwealth of Independent States (the “Court”) has issued an advisory opinion on Section 11 of the Convention for the Protection of Investors’ Rights which questions the basis of one of the arguments under which Stans brought its arbitration case against Kyrgyzstan.
As previously reported by the Company, the ruling by the Court does not affect the decision of the International Arbitration Court of the Moscow Chamber of Commerce and Industry (the “Tribunal”), as it is an advisory opinion only and is not binding within the CIS or internationally.
It is the view of the Company’s legal advisors that Stans’ arbitration award is final and binding. The company’s legal advisors continue to proceed with execution of the award, and will continue to counter all efforts of the Kyrgyz Government to challenge their legitimate obligations to the company in any venues.
Stans also wishes to report that its Annual General and Special meeting will be held today on September 25, 2014 at 1pm.
The location of the September 25, 2014 Stans Energy Annual General and Special Meeting, will be:
Toronto Board of Trade:
September 25, 2014
Start Time – 1pm
77 Adelaide St. West
First Canadian Place
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Management will provide a summary presentation regarding corporate initiatives undertaken since 2013.
A copy of this presentation is available at:
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing Heavy Rare Earth (HRE) properties in areas of Central Asia and Russia. 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 from Kutessay II ores. 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.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>