RNS Number : 5912V
Mano River Resources Inc
30 May 2008
Date: 30 May 2008
TSX-V: MNO
AIM: MANA
Mano River Resources Inc
("Mano" or the "Company")
Announces closing of private placement
Mano, the TSX-V and AIM-listed exploration and development company focussed on gold,
diamonds and iron ore in west Africa, is pleased to
announce that it has successfully completed a non-brokered private placement ("Private
Placement") of a total of 20,000,000 new common
shares ("Placing Shares") and 20,000,000 warrants at a price of 10p per Placing Share with
Severstal, which was previously announced on 23
May 2008, raising gross proceeds of £2m. Admission of the Placing Shares to trading on AIM
will become effective today, 30 May 2008.
Following the private placement Severstal will hold 6.29% of Mano's issued share capital.Upon exercise of all the warrants, Severstal's
holding in Mano would increase to 11.84% (assuming no further issuances of common shares prior
to that time). The total number of issued
Common Shares in the Company, including the New Common Shares, will be 317,810,818 Common
Shares.
The securities issued in the Private Placement are subject to a 4 month hold period under
Canadian securities laws and the policies of
the TSX Venture Exchange and cannot be traded until 30 September 2008.
Ends
For further information on Mano River Resources and its exploration programme, you are
invited to visit the Company's website at
www.manoriver.com or contact one of the following:
Mano River Resources Inc.
Luis da Silva
Tel +44 (0) 20 7299 4212
Panmure Gordon (UK) Limited
Edward Farmer
Tel +44 (0) 20 7459 3600
GMP Securities Europe LLP
James Hannon
Tel +44 (0) 20 7647 2803
Pelham PR
Charles Vivian/James MacFarlane
Tel +44 (0) 20 7743 6670 / 6375
The TSX Venture Exchange has not reviewed and does not take responsibility for the
adequacy or accuracy of this release
This information is provided by RNS
The company news service from the London Stock Exchange
END
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