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Re: News Release - Thursday, May 29, 2008
Announces Closing of Private Placement
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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
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Copyright (c) 2008 MANO RIVER RESOURCES INC. (MANA) All rights
reserved. For more information visit our website at
http://www.manoriver.com/ or send mailto:releases@manoriver.com
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