Stans Energy Corp V.HRE.H

Arbitration Update

[TrickyGame]

by @accesswire on 19 Sep 2019, 09:12

The Arbitration Update

    

TORONTO, ON / ACCESSWIRE / September 19, 2019 / Stans Energy Corp. (TSXV:HRE)(OTC Pink:HREEF) ("Stans" or the "Company") would like to inform our shareholders that the Kyrgyz Republic has not commenced proceedings in the English courts to challenge the Award recently rendered by the Arbitral Tribunal in Stans Energy Corp and Kutisay Mining v Kyrgyz Republic (PCA Case No 2015-32).

Stans Energy Corp. decided not to challenge the Award before the English courts.

The Company will now seek to collect from the Kyrgyz Republic the amount awarded by the Arbitral Tribunal.

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.

***Notice the Republic has not challenged the Award in Court. I don't know but if we had 30 days to ask for a second award then it stands to reason the REpublic had 30 days to challenge the Award. In both cases the 30 day window is up as of today, I could be wrong though. I'm guessing our decision not to challenge the Award was a strategic one as a goodwill gesture to the Republic to try and bring them to the table for a fast payout of the $31.8 Million CAD and the $698,000 CAD they owe us for the set aside proceeding in 2017 that was rejected. The way I see it if we get a fast payout of money owed then we can make the Lithium Deal in Russia work.

[123buyholdhope]

Thanks for posting the update. If in keeping with proceedings from other arbitration awards this will likely be settled out of court for a reduced amount. Again, just as latest example, it took TMI about 14 months from their PCA award being made to the actual settling with Bolivia for a reduced award amount, out of court. It then took approx another 2 months for the check to arrive at the company.

[mrstockguy]

Stans is not challenging the award. Therefore the company is bankrupt. Why are you taking about settlements and time to collect. 28m dollars . It’s over. - sell up at .02 before you lose everything now.

[TrickyGame]

They are not bankrupt. Unless i read the financial statements wrong Stan's only technically has 1 Million in debt. the loan in the statements is the money that both funders put up advancing the case. I believe it says that in note 8. Thats on a non recourse basis and there's a clause in both aggreements thats the fees cannot be more than the award under any circumstances.

[bobodolen123456]

they have us,i am still going with a license trade off,that will bring in investors or a partner or with our low shares,financing on the probable spike in share value