Stans Energy Corp., (Stans or the Company) is pleased to announce the closing of a private placement of 5,000,000 units, priced at $0.30, for gross proceeds of $1,500,000. Each unit consists of one common share and one half common share purchase warrant exercisable at $0.45 for a period of 18 months.
PowerOne Capital Markets and Pope & Company Ltd. acted as finders (the “Finders”) in connection with the financing. Stans paid the Finders a cash compensation of $105,000 and issued non-transferable broker warrants to the Finders entitling them to acquire a maximum of 350,000 units of Stans at a price of $0.30 per unit for a period of two years. Each unit will be comprised of one common share and one-half of a common share purchase warrant. Each full common share purchase warrant will entitle the holder to acquire one additional common share of Stans at a price of $0.45 per share for a period of 18 months.
The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement are subject to a four-month regulatory hold period. Stans plans on using the proceeds from the financing to fund evaluation and purchase of potential acquisitions, and for general working capital purposes. There are no assurances that any such projects or opportunities will be successful or any exploration or development rights secured or exploited. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Please visit Stans Energy’s website – www.stansenergy.com for additional information, or contact:
President and CEO, Stans Energy Corp.
Ph. 647 426 1865
Manager Investor Relations, Stans Energy Corp
Ph. 647 426 1865