Arbitration Court Rules in Favor of Stans Energy

Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) announced that the Arbitration Court at the Moscow Chamber of Commerce and Industry has ruled in its favor regarding the matter between the company and the government of Kyrgyzstan.

As quoted in the press release:

The Court will now prepare a written ruling, which will detail the verdict and the final damage amount.  This process may take up to three months. Once Stans will receive the written ruling, the Company will issue a release outlining those details.

In the interim period before the final damage amount is announced, the Company intends to continue negotiating a settlement with the inter-departmental working group of the Kyrgyz Government as previously announced by the Company on February 6th, 2014.

Rodney Irwin, interim president and CEO of Stans, commented:

Stans Energy and its subsidiaries have always conducted operations to the highest standards of international ethical and business practices.  This ruling validates our position as open and honest business partners for the Kyrgyz Republic.  It is our hope that we can now engage the Government of the Kyrgyzstan in sincere discussions whereby we can resolve all the outstanding issues in Kyrgyzstan and resume development of Kutessay II.  We are committed to working with the Kyrgyz authorities to negotiate an amicable solution that will allow the Company to resume work, increase employment opportunities for the communities in which operate and to ultimately benefit all stakeholders involved in the project.  I would like to take this opportunity to congratulate our legal team lead by Professor Igor Zenkin, who presented a well-considered and well advocated claim on the Company’s behalf.

Click here to read the full Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) press release.

Click here to read Rare Earth Investing News’ recent interview with Stans Energy.