Mano closes private placement
by Jo Black
Mano, the TSX-V and AIM-listed exploration and development company focussed on gold, diamonds and iron ore in west Africa, has successfully completed a non-brokered 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 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.
Source : http://www.manoriver.com/
Story link: Mano closes private placement
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