Ontario Court of Justice Rules for Kyrgyz Republic in Share Ownership Case

Toronto, Ontario (FSCwire) - Stans Energy Corp. ("Stans" or the "Company") announces that the Ontario Superior Court of Justice has ruled that Centerra Gold (TSX: CG) shares (the “Shares”) are the property of Kyrgyzaltyn JSC (“Kyrgyzaltyn”) not the Kyrgyz Republic.

At issue was whether the Kyrgyz Republic (the “Republic”) is in fact the beneficial owner of the Shares through Kyrgyzaltyn, the mining company 100% owned by the Republic.  The shares are currently being pursued as security in multiple cases of damages awarded by various International Arbitration Tribunals against the Republic.

In the matter of Belokon et. al v. the Kyrgyz Republic, of which Stans was a joint applicant, Justice Conway ruled that, among other things, “the Republic does not have ‘any equitable or other right, property, interest or equity of redemption’ in the Centerra shares that is subject to seizure and sale…..”

An appeal of this decision is under consideration.

“As the case continues to evolve, Stans remains committed to pursuing full resolution of both the awards of the Moscow Chamber of Commerce and Industry and the upcoming UNCITRAL arbitration,” states Rodney Irwin, Interim President and CEO. 

About Stans Energy

Stans Energy Corp. is a resource development company focused on advancing rare earth and specialty metals properties focusing on areas of Central Asia and Russia. Stans acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic in 2009 and the right to mine Beryllium at Kalesay.  Steps subsequently taken by the Government of the Kyrgyz Republic wrongfully to deprive the Company of those mining rights have required Stans to take the actions described above to protect the Company’s rights and recover damages caused by the Republic’s wrongful actions.

We seek safe harbour.

Contact Details

Rodney Irwin                                                                                                     David Vinokurov

Interim President & CEO                                                                               VP Corporate Development

rodney@stansenergy.com                                                                          david@stansenergy.com

647-426-1865                                                                                                     647-426-1865

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.

Maximum News Dissemination by FSCwire. http://www.fscwire.com

Copyright © 2016 Filing Services Canada Inc.