Stans Energy Corp. is very pleased to have two rare earth specialists, James Hedrick and James Allan (P.Eng), joining its advisory board. Mr. James Hedrick was the rare earth specialist with the USGS from 1996 until his retirement on December 31, 2009. Mr. James Allan is an independent consulting geological engineer and was a member of the World Bank team that, in 1995, prepared a report on Stans Energy Corp.’s recently acquired past-producing rare earth mine, Kutessay II, in Kyrgyzstan.
Stans Energy is pleased to announce that it has become a sponsor of www.RareMetalBlog.com the source for information updates on Rare Metals and Rare Earth Elements for investors as well as industry professionals. The Company’s agreement with Pro-Edge Consultant’s Inc. (Pro-edge) owner of the blog is subject to the approval of the TSX Venture Exchange and is for an initial term of 4 months which term may be extended by mutual agreement of both parties. Stan’s will pay Pro-Edge a monthly fee for services of $1,250. Pro-Edge will also receive 50,000 share options with a 2 year maturity that will vest in equal quarterly tranches during the first 12 month period with an exercise price of $0.37.
Stans Energy Corp. would also like to announce today that the company intends to grant 2,050,000 stock options, to directors, officers, consultants and employees, at an exercise price of $0.37 per common share, with a five-year term to expiry. The Board of Directors has also determined that the Corporation will not proceed with its previously announced plan (see October 23, 2009 announcement) to re-price from $0.33 to $0.10 the existing 4,770,000 options held by officers, directors and other insiders, for which TSX Venture Exchange conditional approval had been obtained, subject to disinterested shareholder approval.
Lastly, Stans Energy Corp. is pleased to announce that it is planning a non- brokered private placement with total gross proceeds of up to $1.5-million from the sale of up to five million units at a price of $0.30 per unit. Pope & Company Ltd. and PowerOne Capital Markets will act as finders in connection with the financing.
Each unit will consist of one common share and one half of one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company for 18 months, at a price of$0.45 per share from the date of closing of the Private Placement. The securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange (the “TSX”) and a finder’s fee may be payable in accordance with the policies of the TSX.”
To participate in this financing, please contact:
Deborah Honig, Sales Trader for Pope and Company
Ph. (416) 588-7014
Stans Energy Corp. plans on using the funds for evaluation of potential acquisitions and working capital. 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