RE: RE: New Investor Relations Firm to Replace Dav Here is the corrected news release, not like the one I received by email:
STATE GEOLOGICAL AGENCY CONFIRMS STANS’ COMPLIANCE WITH LICENCING AGREEMENT
Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) is pleased to report that
the Kyrgyz State Geological Agency decided not to annul the Company’s licence agreement as
recommended by a parliamentary committee as previously reported.
Stans Energy was granted the extension to Licence Agreement #3 on a lawful basis and the original
decision by the State Geological Agency is legally binding. The lawsuit against a committee in the
Kyrgyz parliament (Jogorku Kenesh) will still be pursued in the courts to ensure that rule of law is
enforced and Stans’ shareholders’ rights are protected.
“It is extremely reassuring that Stans has been provided with statements of support from the State
Geological Agency (SGA) maintaining the Company’s legal standing. We will continue negotiating the
parameters of a public-private partnership, with the SGA, as set out in the previously granted
framework on June 15, 2012. Although the lawsuit against the committee in the Jogorku Kenesh is
ongoing, we are eager to continue to working closely with the officials and experts at the SGA. The aim
of court action is to have the committee cease and desist from making further false claims against the
company and its operations, and we are optimistic that given our day in court, Stans will be able to
fully assert our legal position,” states Robert Mackay, President and CEO.
The Company and its Kyrgyz advisors believe this committee failed to follow Kyrgyz laws, in that it (a)
failed to follow legislated inspection and investigation procedures and due process in respect of the
activity of the State Geological Agency, (b) failed to consider the interests of the Company or afford the
Company due process, (c) acted beyond its legislated authority and interfered in activities of the
government of Kyrgyzstan and the State Geological Agency over which it had no right or capacity, and
(d) now seeks to direct the State Geological Agency to implement a form of expropriation, which is
contrary to Kyrgyz law.
The Company is also pleased to announce the addition of Mr. Temerbek Kenenbaev to its Board of
Advisors. Mr. Kenenbaev graduated from the Kyrgyz State National University in 1973 and has led a
successful career as one of the top jurisprudential experts in Kyrgyzstan. His vast experience in roles as
Chairman of the Court for the International Arbitration Court in Kyrgyzstan, Deputy Chief of the Law
Department of the President’s Administration of the Kyrgyz Republic, and Chief of the Law Department
of the Jogorku Kenesh of the Kyrgyz Republic, will be a tremendous asset to the Company. Mr.
Kenenbaev is currently a Senior Partner at Partners Law Firm, Stans’ current legal counsel in
Kyrgyzstan.
In consideration of his role on the Board of Advisors, Mr. Kenenbaev has been granted 350,000
incentive stock options, as approved by the Board of Directors on August 2, 2012, at an exercise price
of
.61 as of the market close on July 27, 2012, expiring on August 2, 2017. This grant is subject to
TSX Approval.
Robert Mackay, President and CEO of Stans Energy, is pleased to announce the promotion of Mr. David
Vinokurov to Vice President of Corporate Development. “David has become an integral part of the
Stans Energy leadership team and will now focus on building our corporate awareness in The Kyrgyz
Republic and begin developing the framework for the public private partnership with the people of
Kyrgyzstan”.
Subject to TSX Venture Exchange approval, The Buick Group has been retained to provide Investor
Relations services in replacing Mr. Vinokurov. The Buick Group, which previously functioned as the
Investor Relations agency for Stans, is a Toronto based capital markets advisory firm that assists private
and publicly traded companies in strengthening brand recognition in global financial markets. The
Buick Group provides business management services in the areas of strategic planning, shareholder
relations and capital formations strategies. Under the terms of the agreement, Stans Energy will pay
The Buick Group a monthly retainer fee of $5,000 for investor relations services commencing
immediately. The initial term of the contract is three months and may be extended on a month to
month basis thereafter.