Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) announces that an oral decision was made on April 29, 2015 in the Moscow City Arbitrazh Court (the “City Court”) in the Kyrgyz Republics’ case against the Company. The Company understands that the City Court ordered that the Moscow Chamber of Commerce and Industry’s decision in favour of Stans in its’ arbitration claim against the Kyrgyz Republic be set aside on procedural grounds. The City Court has advised counsel that the written order with reasons will be provided within five business days. A detailed press release will be provided following receipt and review of the written order and the reasons given.
In the meantime the Mareva injunction, arresting approximately 47,000,000 Centerra Gold shares remains in place in Canada. Kyrgyzaltyn (“KJSC”), the beneficial owner of the Centerra Gold shares, will be seeking to set aside the Mareva injunction at a previously scheduled May 15, 2015 appeal.
Stans’ current intention is to appeal the decision of the City Court. Until that appeal is heard, the decision of the City Court does not come into effect.
Stans continues to seek the enforcement of its US$ 118 million award at the Ontario Court of Justice, which remains scheduled for June 29, 2015. See also notes below.
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.
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.