| | | | Manas Petroleum Announces Closing of Private Placement by Canadian Petromanas Energy Inc. and Accelerated Issuance of 100,000,000 Shares of Petromanas Energy to Manas Petroleum Subsidiary DWM | BAAR, SWITZERLAND, May 27th, 2010.
Manas Petroleum Corporation (OTCBB:MNAP) ("Manas" or the "Company") is pleased to announce that Petromanas Energy Inc. (TSXV:PMI) ("Petromanas") has closed a brokered private placement of 187,500,000 units ("Units") at a price of $0.40 per Unit (the "Offering") for aggregate gross proceeds of $75,000,000. Each Unit consisted of one Petromanas common share ("Common Share") and one-half of one common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder to acquire one additional common share of Petromanas at a price of $0.60 per share on or before May 26, 2012.
Quantum Partners Ltd., a private investment fund managed by Soros Fund Management, LLC subscribed for 72,500,000 Units. Investment Funds managed by Columbia Wanger Asset Management subscribed for a total of 65,000,000 Units.
Pursuant to a share purchase agreement dated February 12, 2010, as amended May 25, 2010, Petromanas Energy has issued to DWM Petroleum AG ("DWM"), a wholly-owned subsidiary of Manas Petroleum, an additional 100,000,000 Petromanas common shares. DWM now has ownership and control over 200,000,000 common shares of Petromanas and the right to acquire a further 50,000,000 common shares of Petromanas. The 200,000,000 common shares represent 32.36% of the issued and outstanding common shares of Petromanas. Assuming DWM acquired the additional 50,000,000 common shares it would hold 250,000,000 common shares representing 37.42% of the partially diluted issued and outstanding shares of Petromanas.
For further information please contact:
Manas Petroleum Corp.
Bahnofstr. 9 P.O. Box 155
CH-6341 Baar, Switzerland
Phone: +41 44 718 1030
Fax: +41 44 718 1039
Email: info@manaspete.com
Web: www.manaspete.com |
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