Ontario Superior Court of Justice Grants Leave to Appeal to Kyrgyzaltyn in Stans Arbitration Case
Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) reports that the Ontario Superior Court of Justice (the “Court”) has granted Kyrgyzaltyn JSC (“KJSC”) leave to appeal the decision of the Court continuing Stans' Mareva injunction dated October 24, 2014. The decision to grant leave does not set aside the Mareva injunction granted to Stans on October 10, 2014, and continued by the Court on October 24, 2014. Stans anticipates that the appeal to the Ontario Divisional Court will be heard in May 2015. This leave to appeal does not impact the Company’s ongoing preparations for filing for recognition of the Award and asset seizure of Centerra Gold shares currently under arrest.
Legal Update
On December 8, 2014 the Inter-District Court of Bishkek upheld the revocation order issued by the State Agency of Geology and Mineral Resources of the Kyrgyz Republic (the “SGA”) of the Stans’ Kutessay II mining licence. Stans has filed an appeal to the Bishkek City Court. No date has been set as of yet.
“The Kyrgyz government continues it malicious prosecution of Stans and its’ interests in Kyrgyzstan. It is important to demonstrate to the Ontario Courts that despite the Company’s best efforts to resolve the issue legally and amicably, the Kyrgyz government continues down an anti-investor path,” states Rodney Irwin, Interim CEO and President.
Technical Disclosure
The 2011 Kutessay II technical report was filed to comply with NI 43-101. This report uses JORC classification and there is no material difference between JORC and CIM classification schemes.
In the April 12, 2011 news release by the Company, the relative abundance of rare earth elements disclosed are not rare-earth grades in per cent per tonne, but only the fraction of the total rare earth grade taken up by each element.
Contact Details
| Rodney Irwin | David Vinokurov |
| 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/stans01072015.pdf
Source: Stans Energy Corp. (TSX Venture:HRE) www.stansenergy.com
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