TORONTO, ON / ACCESSWIRE / December 22, 2017 / Stans Energy Corp. (TSX-V: HRE, OTC PINK: HREEF), ("Stans" or the "Company") is pleased to report that the Company and Atomredmetzoloto JSC ("ARMZ"), the mining division of the Russian State Atomic Energy Corporation, have expanded their original Memorandum of Understanding ("MOU") announced on July 24, 2017. The new MOU outlines definitive steps and milestones for the determining partnership parameters for the joint redevelopment of the Zavitinskoye Lithium Mine in Trans-Baikal region, Russian Federation.
As previously announced on December 11, 2017, Stans and ARMZ identified technical and legal issues which precluded both Stans and ARMZ from conducting the necessary geological sampling to evaluate the Pervomayskiy Lithium Stockpile. In place of this program, ARMZ will commence an internal scoping study on the Zavitinskoye Lithium mine, which was the historic source of mineralized material for the Pervomayskiy cut-off grade lithium mineralization stockpile.
Upon the completion of the ARMZ internal Scoping Study and as per the terms of this MOU, Stans and ARMZ will enter into a joint project development program and partnership arrangement. As such, Stans and ARMZ will evaluate joint development of the Zavotinskoye lithium mine and merits of utilizing the PGOK assets.
"Management at Stans is pleased to continue pursuing the development of lithium assets in the Russian Federation. Having partner of ARMZ caliber will assist with the development of lithium programs in the Russian Federation. Despite having a setback with Pervomayskiy GOK LLC., Stans has been able to advance the company's interests in lithium production by establishing a partnership with a state-owned corporation," states Rodney Irwin, CEO and President. "We look forward to working closely with our colleagues at ARMZ."
Please see July 24, 2017 press release regarding the MOU with ARMZ.
STANS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
The Company announces a proposed non-brokered private placement offering (the "Offering") of up to C$70,000 of common shares in the capital of Stans Energy Corp. (the "Common Shares") to be sold on a best efforts basis.
The Offering is for up to $80,000 (the "Offering Amount") consisting of up to 1,600,000 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 60 months at a price of $0.06 per common share.
Stans intends to use the gross proceeds for general corporate purposes.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept 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 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.
Contact Details
Rodney Irwin
Stans Energy Corp
Interim President & CEO
[email protected]
647-426-1865
David Vinokurov
Stans Energy Corp
VP Corporate Development
[email protected]
647-426-1865
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.