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Manas Petroleum Corporation Announces Public Offering
BAAR, SWITZERLAND, February 03, 2011.
Manas Petroleum Corporation (OTCBB:MNAP) ("Manas" or the "Company") is pleased to announce that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission and a Preliminary Prospectus with the securities commissions in all of the provinces of Canada except Quebec, for a proposed public offering of common shares ("Common Shares") to raise a minimum of $20,000,000 and a maximum of $30,000,000 at a price per Common Share to be determined closer to the closing date of the offering, which has yet to be scheduled.
The Company has entered into an engagement letter with Raymond James Ltd. in which Raymond James Ltd. has agreed to act as lead agent in the offering on a "reasonable commercial efforts" agency basis. The Company has granted to Raymond James Ltd. an over-allotment option, exercisable for a period of 30 days from the closing of the Offering, to place such number of Common Shares as is equal to 15% of the Common Shares sold in the Offering on the same terms as the Offering.
The Offering is subject to certain conditions, including completion of a due diligence review by the agent, the listing of the Common Shares on the TSX Venture Exchange, regulatory approvals and final, formal documentation.
The Company hopes to close the Offering in late March or early April of 2011, and it intends to use the net proceeds of the Offering to fund its exploration and development programs in Mongolia, for working capital and general corporate purposes.
About Manas Petroleum Corp.
Manas Petroleum is an international oil and gas company with primary focus on exploration and development in South-Eastern Europe, Central Asia and Mongolia. In Albania, Manas participates in a 1.7 million acre exploration project through its equity interest in Petromanas Energy Inc., a Canadian public company. In Kyrgyzstan, Manas has signed a US $54 million farm-out agreement with Santos International Holdings Pty Ltd., a subsidiary of Australia's third largest oil and gas company. In addition to the development of its Kyrgyzstan project, Santos is developing the company's neighboring Tajikistan license under an option farm out agreement. In Mongolia, Manas owns record title to the two Production Sharing Contracts covering Blocks XIII and XIV through its wholly-owned subsidiary DWM Petroleum AG, but 26% of the beneficial ownership interest in these blocks is held in trust for others.
Download Preliminary Prospectus here
Successful Ivanhoe Mines Rights Offering Yields US$1.18 Billion in Gross Proceeds to Advance Construction at Oyu Tolgoi Project
Shareholders Exercised 99.5% of Available Rights
TORONTO, ONTARIO--(Marketwire - Feb. 3, 2011) - Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) announced today that final, closing results of its strategic rights offering have confirmed that the offering generated US$1.18 billion (CDN$1.17 billion) in gross proceeds to be used to advance development of the Oyu Tolgoi copper-gold project in Mongolia.
Upon the closing of the rights offering, Ivanhoe Mines issued a total of 84,867,671 common shares, which represents 99.5% of the maximum number of common shares that were available under the rights offering.
"The virtually universal support of our eligible shareholders and the backing of the international investment community have made this rights offering another landmark event in the history of our company," said Robert Friedland, Executive Chairman and Chief Executive Officer of Ivanhoe Mines.
"The funds that have been raised significantly enhance Ivanhoe Mines' capital position and our ability to sustain the pace of full-scale construction at Oyu Tolgoi toward our target of initial production next year."
CNSX: New Listing-Mongolia Growth Group Ltd. (YAK)
TORONTO, ONTARIO--(Marketwire - Feb. 3, 2011) - The common shares of Mongolia Growth Group Ltd. have been approved for listing on CNSX. The Company has 14,167,602 common shares outstanding with a public float of approximately 6 million shares.
Mongolia Growth is an investment company that intends to focus its efforts in the emerging economy of Mongolia. The Company's initial investments will include the purchase of a group of residential or commercial properties in urban Ulaanbaatar.
Listing and disclosure documents for Mongolia Growth Group Ltd. will be available in the CNSX Listings Disclosure Hall.
Trading Date: Friday, February 4, 2011
CUSIP: 60936L 10 6
ISIN: CA 60936L 10 6 7
Applications are being accepted for Market Makers for "YAK".
"Mogi" Munkhdul Badral
CPS International LLC
Suite 906, Central Tower
Sukhbaatar District, Ulaanbaatar