Stans Energy Corp.
TSX VENTURE : RUU

Stans Energy Corp.

December 01, 2009 15:16 ET

Stans Energy Corp., Announces Closing of $1,000,000 USD Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - Stans Energy Corp., (Stans or the Company) (TSX VENTURE:RUU) is pleased to announce the closing of the following private placement, as announced by News Release dated October 23, 2009 amended by News Release dated November 10, 2009 and further amended by News Release dated November 25, 2009.

$1,000,000 USD through the issuance of units priced at $0.05 USD. Each unit consists of 1 common share and 1 common share purchase warrant exercisable at $0.10 USD. Each unit would consist of one common share and one common share purchase warrant (a "Warrant").

Each Warrant would entitle the holder to acquire an additional common share of Stans at a price of $0.10 USD until the earlier of (i) November 30, 2010; and (ii) thirty days after notice is given to Warrant holders by Stans in the event that the common shares of Stans trade at or above $0.15 CAD per share for a period of 20 consecutive days and at least four months have passed from the date of closing of the subscription.

In the event a Canadian dollar is worth more than a US dollar at any material time, the floor price for the issuance of units or the exercise of any Warrants at that time shall be adjusted to be not less than $0.05 CAD and $0.10 CAD respectively.

The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.

Stans plans on using the proceeds from the financing to fund evaluation and purchase of potential acquisitions, and for general working capital purposes. There are no assurances that any such projects or opportunities will be successful or any exploration or development rights secured or exploited.

For further details on Stans Energy Corp., please visit the Company's website at: www.stansenergy.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Stans Energy Corp.
    Robert Mackay
    President and CEO
    (647) 426-1865