Stans Energy Resolves Employment Litigation with Former CFO
Toronto, Ontario (FSCwire) - Stans Energy Corp. (TSX-V: HRE, OTCQB: HREEF)(‘Stans’ or the ‘Company’), announces that on September 2, 2015, the Company entered into an agreement to settle and fully resolve in an amicable fashion the claims of its former Chief Financial Officer Anna Kuranova. The costs of these proceedings and their settlement were insured, and do not detrimentally impact the Company’s Q3 2015 financial position.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare earth and specialty metals properties in areas of Central Asia and Russia. Stans acquired the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic in 2009. Since that time the Government of the Republic of Kyrgyzstan took expropriatory actions against the Company’s interests in that country, Subsequently Stans Energy applied to international arbitration to resolve the conflict. On June 30, 2014, Stans Energy was awarded US$118 Million by the Arbitration Tribunal at the Moscow Chamber of Commerce and Industry (the “MCCI”). Stans is seeking recognition by the Ontario Superior Court of Justice of the MCCI award to collect US$ 118 Million from the Kyrgyz Republic.
We seek safe harbour.
Contact Details
Rodney Irwin David Vinokurov
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/StansSept92015.pdf
Source: Stans Energy Corp. (TSX Venture:HRE, OTCQX:HREEF) www.stansenergy.com
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