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
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.