Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) is pleased to announce that its Russian subsidiary Didym Inc. (“Didym””), a Skolkovo Foundation resident company, has been formally approved to apply for a grant from the Skolkovo Foundation. Through the Skolkovo Foundation, Didym, is now able to apply for government grants of up to 100 million RUB (~US$1.44 million) for developing technologies for the separation of rare earths and other rare metals from mining production concentrates.
These research grants will be used by the Company to develop intellectual property for metals processing technologies, which will be used for individual rare earth and rare metal separation. Didym is currently preparing the grant application and hopes to have a completed application submitted to the Skolkovo Nuclear Technologies cluster for review within the next 90 days.
“Being a research and development center for rare earth and rare metals separation processing technologies, Didym will assist the Company’s future technical development programs. Furthermore Didym will be able to attract customers from around the world looking to develop new and innovative separation technologies for their own respective projects. We look forward to diversifying into this business vertical and capitalizing on the intellectual know-how we have been assembling over the years,” states Rodney Irwin, President and CEO.
The Skolkovo Foundation’s goal is to turn cutting-edge research into commercially-viable products of global relevance by creating a unique global hub for innovation and an ecosystem of entrepreneurs and talent. With a $3.9 billion budget, over 1,000 companies and start- ups, three Nobel Laureates and hosting world-renowned scientists, the Skolkovo Innovation Center is Russia’s largest supporter of innovation and a new global technology hub. Over 1,000 companies focused on innovation have joined these clusters after having been rigorously screened through a competitive process calling upon an international panel of business and science review experts. More than 200 companies have already benefitted from research grants ranging between $50,000 and $10 million, to the tune of $300 million to date.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare earth and specialty metals properties in areas of Central Asia and Russia. Stans acquired the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic in 2009. Since that time the Government of the Republic of Kyrgyzstan took expropriatory actions against the Company’s interests in that country, Subsequently Stans Energy applied to international arbitration to resolve the conflict. On June 30, 2014, Stans Energy was awarded US$118 Million by the Arbitration Tribunal at the Moscow Chamber of Commerce and Industry. On October 24, Stans Energy arrested 47 million shares of Centerra Gold (TSX: CG) as security in this matter. This security allows the Company to pursue the recognition of its arbitral award against the Kyrgyz Republic in the Canadian court system. Stans is now seeking recognition by the Ontario Court of Justice to collect US$ 118 Million worth of Centerra Gold shares.
We seek safe harbour.
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.