Stans Energy Announces AGSM Results

Rhea-AI Summary

Stans Energy Corp. held its Annual and General Special Meeting on January 6, 2022, where key decisions were made. All nominees for the Board of Directors were elected with over 97% approval. PKF Antares was appointed as auditors, garnering 97.77% of votes. A new 10% rolling Stock Option Plan was approved with 90.43% support. The meeting also saw the appointment of Boris Aryev as Interim President and CEO. Additionally, 1,120,000 shares were issued to settle debt owed to the former CFO. The company remains focused on advancing rare and specialty metals properties.

Positive

• All director nominees elected with over 97% votes.
• Appointment of PKF Antares as auditors received 97.77% approval.
• 90.43% approval for the new Stock Option Plan.
• Boris Aryev appointed as Interim President and CEO.

Negative

• 1,120,000 shares issued to settle debt, potentially diluting existing shareholders.

TORONTO, ON / ACCESSWIRE / January 13, 2022 / Stans Energy Corp. (TSXV:HRE)(OTCQX:HREEF), ("Stans" or the "Company"), reports on the following results from its Annual and General Special Meeting held on Jan. 06, 2022:

Election of Directors:

The Nominees listed in the management proxy circular for the 2022 AGSM were elected as directors of Stans Energy Corp. Detailed Results of the votes by ballot for the election of directors held at the AGSM are as follows:

Nominee	Votes For	% For	Votes Withheld	% Withheld
Rodney Irwin	20,353,849	97.778%	463,765	2.23%
Gordon Baker	20,354,349	97.775%	463,265	2.23%
Douglas Underhill	20,354,349	97.775%	463,265	2.23%
Boris Aryev	20,262,349	97.33%	555265	2.67%
Albert Grenke	20,354,349	97.775%	463,265	2.23%

Appointment of Auditors

PKF Antares, Chartered Professional Accountants has been appointed auditors of the corporation to hold office until the close of the next annual general meeting of shareholders at such remuneration as may be fixed by the directors and the directors are hereby authorized to fix such remuneration. Results for the appointment of auditors are as follows:

20,353,349 (97.77%) votes for and 464,265 (2.23%) votes withheld

Stock Option Plan

The Stans Energy Corp. 10% rolling Stock Option Plan has been approved by the shareholders. Results as follows:

18,826,227 (90.434%) votes for and 1,991,387 (9.566%) votes against.

Appointment of Officers.

The Board of Directors meeting held at the same date made the following appointments, subject to acceptance of the TSX:

1. Boris Aryev as Interim President and CEO of the Company.
2. Rodney Irwin is re-appointed as Chairman of the Board of Directors.

Shares for Debt Settlement

The Company reports that former CFO, Olga Stevens, has been issued 1,120,000 shares at $0.05 per share to settle partial debt owed from salary arrears dating from July 2019 to May 2021. The Shares for Debt Settlement Agreement was approved by Stans Board of Directors on January 6, 2022.

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 news release.

About Stans Energy

Stans Energy Corp. is a resource development company focused on advancing rare and specialty metals properties and processing technologies. Previously, the Company acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic. Due to the expropriation actions taken by the Government of the Kyrgyz Republic, the Company proceeded with the international arbitration litigation to protect the Company's rights and in August 2019 won the Arbitration including damages for over US$24,000,000 plus interest. The rights to collect damages were assigned to the Litigation Funders to repay for the funding provided under Litigation Funding Agreements.

We seek safe harbour.

Contact Details

Rodney Irwin
Stans Energy Corp
Chairman of the Board
rodney@stansenergy.com
647-426-1865

Boris Aryev
Stans Energy Corp
President & CEO
boris@stansenergy.com
416-716-4748

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.

SOURCE: Stans Energy Corp.

View source version on accesswire.com:
https://www.accesswire.com/683446/Stans-Energy-Announces-AGSM-Results

FAQ

What were the results of Stans Energy's Annual General Meeting on January 6, 2022?

All director nominees were elected with over 97% approval, and PKF Antares was appointed as auditors.

What percentage of votes approved the new Stock Option Plan at Stans Energy?

The new Stock Option Plan was approved with 90.43% of the votes.

Who was appointed as Interim President and CEO of Stans Energy?

Boris Aryev was appointed as Interim President and CEO.

How many shares were issued for debt settlement on January 6, 2022?

1,120,000 shares were issued to settle debt owed to the former CFO.

What is the stock symbol for Stans Energy?

Stans Energy's stock symbol is HREEF.