Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), ("Stans" or the "Company") announces a proposed non-brokered private placement offering (the "Offering") of up to C$500,000 of common shares in the capital of Stans Energy Corp. (the "Common Shares") to be sold on a best efforts basis.
The Proposed Offering of Common Shares
The Offering is for up to $500,000 (the “Offering Amount”) consisting of up to 10,000,000 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 24 months at a price of $0.065 per common share.
The expiry date of the Warrants may be accelerated by the Company in the event that (the “Acceleration Event”) the closing price of the common shares of the Company on the TSX Venture Exchange, or such other exchange on which the Common Shares may primarily trade from time to time, at a volume-weighted average price of $0.15 for a period of least 20 consecutive trading days at any time after July 1, 2015. If the Acceleration Event occurs the Company may, at its option, accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire at 4 p.m. (Toronto time) on the date which is the earlier of: (i) the 30th day after the date on which such notice is given by the Company in accordance with the terms of the Warrants; and (ii) the actual expiry date of the Warrants.
Stans intends to use the gross proceeds from the Offering is to fund the legal costs associated with the Company’s collection of US$118 million from the Kyrgyz Government and general corporate purposes.
The Offering is open to all accredited investors and financial institutions, subject to certain limitations. Any existing shareholder interested in participating in the Offering should contact the Company in accordance with the contact information set forth below. The Company may pay registrants a cash commission of 5% of the gross proceeds of this Offering in respect of investors solicited or introduced by such registrants. Registrants will also be entitled to receive warrants to purchase that number of common shares of the Company as equals 5% of the total offering subscribed by investors solicited or introduced by such registrants, at an exercise price of $0.065 per share, for a term of 24 months.
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.
Closing of the Offering will be subject to certain closing conditions, including the approval of the Toronto Stock Exchange.
We seek safe harbour.
Contact Details
Rodney Irwin David Vinokurov
Stans Energy Corp Stan Energy Corp
Interim President & CEO VP Corporate Development
rodney@stansenergy.com david@stansenergy.com
647-426-1865 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/StansApr12015.pdfSource: Stans Energy Corp. (TSX Venture:HRE) www.stansenergy.com
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