TSX-V: RUU April 14, 2011
Stans Energy Corp. (the ‘Company’ or ‘Stans Energy’) (TSX-V:RUU) is pleased to announce that in connection with its previously announced private placement (announced March 30th, 2011), the Company, the lead agent Stifel Nicolaus Canada Inc. and the co-manager Clarus Securities Inc. have agreed to increase the size of the offering to approximately C$28,000,000 of units (the “Units”).
The offering will be a “best efforts” brokered private placement offering of approximately C$28,000,000 of Units at a price of C$1.85 per Unit (the “Offering”). Each Unit will consist of one common share of the Company (“Common Share”) plus one-half of one common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder thereof to acquire one Common Share of the Company at a price of C$2.25 for a period of 24 months following the closing of the Offering.
The proceeds of the Private Placement will be used for a feasibility study on Kutessay II and Kalesay, purchase of the KCMP Rare Earth (RE) Processing Complex, refurbishment and upgrades to the KCMP RE Processing Complex, Aktyuz exploration and for working capital. All of the Common Shares and Purchase Warrants issued pursuant to the Private Placement are subject to a four-month hold period. Completion of the Private Placement is subject to TSX Venture Exchange approval.
Stans Energy Corp.
Stans Energy Corp. is focused on developing properties containing Rare Earth Elements (REEs). The company continuously examines and evaluates new opportunities to acquire and develop proven resource properties in areas of the former Soviet Union. The headquarters of the company is located in Toronto, Ontario, Canada, and its wholly-owned subsidiary, Stans Energy KG, is located in Bishkek, Kyrgyzstan. Stans Energy Corp’s Chairman, Rodney Irwin, was the former ambassador to the Russian Federation for Canada, and currently serves as the Honorary Consul of the Kyrgyz Republic for Canada.
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
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Units and the Common Shares and Warrants have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
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.
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 news release.