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Stans Energy (TSXV:HRE) announced a non-brokered private placement for C$500,000. Shares of the company will be sold on a best efforts basis, and proceeds will be used to fund legal costs association with the company’s collection of US$118 million from the Kyrgyz government.
Stans Energy (TSXV:HRE) announced a non-brokered private placement for C$500,000. Shares of the company will be sold on a best efforts basis, and proceeds will be used to fund legal costs association with the company’s collection of US$118 million from the Kyrgyz government.
As quoted in the press release:
The Offering is for up to $500,000 (the “Offering Amount”) consisting of up to 10,000,000 units at a price of $0.05 per Unit. Each Unit will consist of one common share in the capital of the Company and one share purchase warrant (each whole warrant a “Warrant”). Each Warrant will be exercisable to acquire one additional common share of the Company for a period of 24 months at a price of $0.065 per common share.
The expiry date of the Warrants may be accelerated by the Company in the event that (the “Acceleration Event”) the closing price of the common shares of the Company on the TSX Venture Exchange, or such other exchange on which the Common Shares may primarily trade from time to time, at a volume-weighted average price of $0.15 for a period of least 20 consecutive trading days at any time after July 1, 2015. If the Acceleration Event occurs the Company may, at its option, accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire at 4 p.m. (Toronto time) on the date which is the earlier of: (i) the 30th day after the date on which such notice is given by the Company in accordance with the terms of the Warrants; and (ii) the actual expiry date of the Warrants.
Click here to read the Stans Energy (TSXV:HRE) press release