Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) reports that on January 28, 2015, the Arbitration Court of the City of Moscow (the “Court”) agreed with the opinion of the Stans’ legal representatives on the necessity of combining two separate ongoing challenges in Moscow.
On January 28, 2015 a hearing was held regarding the Kyrgyz Republic’s appeal of the decision on March 31, 2014 of the International Moscow Chamber of Commerce and Industry (the “MCCI”) regarding its jurisdiction in hearing the Company’s international arbitration proceedings. Furthermore another hearing was to be held on February 12 2015 where the Kyrgyz Republic was seeking to set aside the verdict of the MCCI from June 30, 2014, has been canceled.
At the direction of the Court, the combined hearing of these arguments is scheduled to commence on March 2, 2015.
As reported by the Company on January 28, 2015, the arrest of 47 million Centerra Gold shares remains in place and the Company is proceeding with enforcement of the award of the MCCI in the Ontario Court of Justice. These appeals in Moscow courts do not affect the time tables as previously announced by the company.
President & CEO
VP Corporate Development
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.