TORONTO, Aug 04, 2011 — Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE, Pink Sheets: HREEF), (“Stans” or the “Company”) is pleased to announce the addition of Dr. Gennady Sarychev to its Advisory Board as a Senior Advisor.
Dr. Sarychev’s current role as the Director of the Leading Research Institute of Chemical Technology (VNIIHT) builds upon his extensive background in Advanced Project Research Management in the following roles:
- Professor at the Moscow Engineering Physics Institute (MEPI),
- Chief Specialist at the Department of Scientific Research and Development for the Russian Ministry of Science
- Director of the Department of Scientific Research Work for the State Committee of the Russian Federation
- Director of the International Technical Cooperation Section; Department of Scientific Research Work of the Ministry of General and Professional Education of the Russian Federation
- Deputy Head of the Department of State Policy on Science, Innovations and Intellectual Property
- Department Head of Planning and Construction of Infrastructure Objects of the Federal Agency for Management of Special Economic Zones of the Ministry of Economic Development of Russia
In addition to the numerous prestigious positions Dr. Sarychev has held, he has the following awards and achievements:
- Medal “In honour of Moscow’s 850-year anniversary”
- Note of Acknowledgement from the Ministry of Education and Science of the Russian Federation
- Medal “65 years of Atomic Industry In Russia”
- Certificate of Merit from the Ministry of Education of the Russian Federation
- Certificate of Merit from the Federal Agency for management of Special Economic Zones
Stans CEO Robert Mackay comments, “The addition of Dr. Sarychev as a Senior Advisor on Stans Energy’s Advisory Board, further enhances Stans research and development capabilities by adding direct experience at the highest levels of scientific research and international cooperation,”
Stans is also pleased to announce that it has now started its operations in Russia through its Russian based subsidiary “SevAmRus ZAO” under the management of Mr. Alexander Nikitin. Please refer to the press release dated July 21st for more details on Mr. Nikitin.
On August 3, 2011, Stans issued options to purchase 400,000 common shares to the new advisor of the Company and 100,000 options to an employee of the Company, with an exercise price of $1.39 CAD per share and expiring August 3, 2016. These grants are subject to TSX Venture Exchange approval.
Also, Stans has amended its March 31, 2011 interim financial statements in order to correct its disclosure in reconciliation from Canadian GAAP into IFRS its total comprehensive income for the three month period ended March 31, 2010 and for the year ended December 31, 2010. The previously reported results for the first quarter ended March 31, 2011 were not affected by this amendment.
The Leading R&D Institute of Chemical Technology (VNIIHT) was founded in April 1951. VNIIHT’s objective was to focus on the exploration and development of technologies and raw materials for use in the Soviet nuclear energy sector. VNIIHT technologies were, and continue to be implemented during the main stages of nuclear fuel cycle. This includes the processing of Uranium and Rare Metal Ores to the generation of nuclear-pure materials. Stans Energy’s feasibility studies (Q4 2011) will be conducted under the guidance of VNIIHT. VNIIHT’s sixty years of chemical technology experience combined with their capabilities of executing the complete cycle of rare earths research, development, and production will give Stans Energy a significant advantage relative to its competitors outside of China
About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
We seek safe harbour.
Stans Energy Corp.
President & CEO
Manager, Investor Relations
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.