Stans Energy Corp: Provides Legal Update on UNCITRAL Arbitration
Toronto - Stans Energy Corp. ("Stans" or the "Company") reports that a hearing was held from April 9 -13, 2018 in the arbitration matter between Stans Energy Corp. and Kutisay Mining LLC (together “Stans”) and The Kyrgyz Republic (the “Republic”). Following the Hearing the Arbitral Tribunal issued a procedural order establishing a post-hearing briefing schedule that will conclude in July 2018, with costs submissions in October 2018.
No definitive timeframe has been provided for the Tribunal for the issuance of a decision. The Company expects to receive a decision in the first half of 2019.
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 into 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 estimated at over US$300,000,000, caused by the Republic.
We seek safe harbour.
Contact Details
| Rodney Irwin | Boris Aryev |
| Stan Energy Corp | |
| Interim President & CEO | COO |
| rodney@stansenergy.com | boris@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.
Source: Stans Energy Corp. (TSX Venture:HRE, OTCQB:HREEF, FWB:S82)