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Stans Energy Corp (2)
Symbol HRE
Shares Issued 157,263,986
Close 2014-03-21 C$ 0.065
Market Cap C$ 10,222,159
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Stans Energy loses Kutessay II court case

2014-03-21 15:08 ET - News Release

Mr. Rodney Irwin reports

STANS ENERGY - INTER-DISTRICT COURT OF BISHKEK RULES IN FAVOUR OF THE KYRGYZ PROSECUTOR'S OFFICE

Stans Energy Corp. has been informed that the Inter-District Court of Bishkek has ruled in favour of the Kyrgyz General Prosecutor's Office (SPO) with respect to its claim regarding Stans's wholly owned Kutessay II project.

This administrative case was filed on March 26, 2013, against the State Agency on Geology and Mineral Resources under the government of the Kyrgyz Republic (SGA) to annul the Dec. 21, 2009, minutes of negotiations (registration No. 1736-H-09) between the SGA and public company OAO Kutisay Mining (100 per cent owned by the government of the Kyrgyz Republic). Kutisay Mining LLC is involved in the case as a third party. Stans reserves the right to appeal this verdict to the Bishkek City Court within one month from the date of receipt of the written decision.

The company's arbitration lawsuit is in progress with the next hearing scheduled for March 31, 2014. Management's counsel believes that this ruling strengthens Stans's arbitration case at the Moscow Chamber of Commerce.

The company will update shareholders and the investment community in due course once a written decision is provided by the court.

For background information on these proceedings, please refer to Stans's April 2, 2013, press release or its most recent management's discussion and analysis, which is available on SEDAR.

We seek Safe Harbor.

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