Stans Energy Correction to Private Placement Terms
Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), ("Stans" or the "Company") announces further corrections to earlier Placement terms as announce on April 14, 2015 that it has completed a closing of its previously announced non-brokered private placements (the “Placements”).
The Proposed Offering of Common Shares
The proposed new non-brokered private placement offering is for an amount of up to $100,000 (the “Offering Amount”) consisting of up to 2,000,000 units to be issued 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. This new offering
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 August 15, 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 Company may pay registrants a finder’s fee 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.
This press release is not an offer of securities for sale in the United States. The securities have not been and will not be registered under the US Securities Act of 1933, as amended (the US Securities Act”), and may not be offered or sold in the United States or to US persons (as defined in Regulation S under the US Securities Act) absent registration or an applicable exemption form.
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/StansApr172015_0.pdf
Source: Stans Energy Corp. (TSX Venture:HRE) www.stansenergy.com
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