Stans Energy Receives $2,000,000 by Warrant Exercise
Stans Energy Corp reports it has received proceeds of $2,000,000.00.
On May 1, 2010, the 20 day volume weighted average price (“VWAP”) of Stans common stock surpassed $0.15 per share, triggering the acceleration of the warrants. Participants in the December 1, 2009 financing elected to exercise their 20,000,000 warrants, at the agreed exercise price of $0.10 per warrant.
Robert Mackay, CEO of Stans Energy says:
“We are happy to see this additional vote of confidence. Stans is well funded to aggressively develop Kutessay II and the Aktyuz Ore Field. We expect to be issuing a JORC resource statement by the end of the summer.”
For complete news release, click here.
For Stans Energy’s company profile, click here.
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Tue, Jun 15, 2010
Post by Geetha Raghavan, Rare Earth Research Manager